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China Merchant Port 2016 profits up 14% to $707m

From Seatrade Maritime:

China Merchants Port Holdings saw 2016 net profit rise 14% to HKD5.49bn ($706.5m) on gains in both container and bulk terminal volumes.

Revenue from the group’s core ports operation rose 14% to HKD24.51bn and generated a pre-tax profit of HKD11.54bn, up 9% year-on-year China Merchants Ports said in a press release.

The group’s Mainland China ports still contributed the bulk of volumes with container throughput of 71.9m teu, an increase of 17.0% year-on-year, which was mainly driven by the additional contribution from a new equity investment in Dalian Port (PDA) Company earlier in the year.

More at Seatrade Maritime

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