Shanghai International Port has reported fast growth in net profit last year as trade growth pushed up shipping demand.
In a recent unaudited report filed with the Shanghai Stock Exchange, the company said net profit attributable to shareholders in 2017 rose 66.1% to RMB11.5 billion (about US$1.8 billion), Xinhua reported.
The world’s busiest container port attributed the growth mainly to rising cargo and container throughput.
Cargo throughput rose 9.1% to 560 million tonnes, and containers handled reached 40.2 million twenty-foot equivalent units, up 8.4% from 2016.
Business revenue rose 19% year-on-year to RMB37.3 billion, while total assets rose 21.5%to RMB142 billion, the company said.
“In 2017, world economic growth and China’s foreign trade growth laid the foundation for international container transportation demand and pushed up the port’s throughput growth,” the company said.
China’s foreign trade rose 14.2% year-on-year in 2017, ending two years of drops, the General Administration of Customs said recently.
Photo: Marqueed
