Shanghai-listed Shanghai International Port Group (SIPG) posted a profit of CNY3.1 billon for the first half of 2015, up 5.65% on a year ago.
The company’s revenue and earnings per share also improved in the January-June period. Its revenue climbed 7.08% year on year (y/y) to CNY14.8 billion, while its earnings per share went up 5.28% to CNY0.14.
Shanghai handled 255 million tonnes of cargo from January-June, down 6.4% y/y. Its bulk bulk cargo throughput dropped 21.1% y/y to 77 million tonnes, and its container volume stood at 18.03 million teu, , up 4.4% y/y.
The port, in its filing to the Shanghai Stock Exchange, attributed reduction in revenue to slower economic growth, adjustments of inland industrial structure, as well as changes in energy structure.
The port targets to handle 550 million tonnes of cargo and 36.5 million teu in container throughput for full-year 2015, and aims to make revenue and profit of CNY30 billion and CNY9.7 million, respectively, this year.