Companies

China's largest port posts 52% growth in H1 profit

(Xinhua)
Updated: 2010-08-23 11:29

SHANGHAI  - Shanghai International Port Group (SIPG), China's largest commercial port and one of the country's major gateways for foreign trade, reported a 52 percent increase in profits during the first half of the year.

Net profits for SIPG were 2.6 billion yuan ($385 million) from January to June, up 52.4 percent year on year, the company said in a statement to the Shanghai Stock Exchange on Saturday.

Special Coverage: 2010 Interim Results of Listed Companies Related readings:  Shanghai port container throughput up 19% in H1  Shanghai Port Q4 net jumps 48% as trade recovers  Shanghai port to suspend Maersk venture

Further, earnings per share rose 52 percent from a year earlier to 0.12 yuan, according to the statement.

The company attributed the growth mainly to China's robust trade performance in the first half of the year.

During  the first half of 2010, China's exports rose 35.2 percent to $705.09 billion while imports increased 52.7 percent to $649.79 billion, according to the General Administration of Customs.

SIPG shares on the Shanghai bourse closed down 0.48 percent to 4.17 yuan on Friday.