Company expects positive returns
19 July, 2017, 12:00 am
Hong Kong-listed China Merchants Port Holdings expects to record an over 50 per cent jump in profit for the six months ended June 30, 2017 when compared with the same period last year.
The increase in net results for the first half of the year has been ascribed primarily to the expected net gain of about $HK775 million ($US99.2m/$F202m) that will be recorded from the disposal of its entire interest in China International Marine Containers (CIMC).
As informed, CIMC is expecting to return to profit in the first half of the year, as compared with a loss of RMB 378 million ($F113m) in the same period last year.
Detailed financial information of the group for the six months ended June 30, 2017 will be published in August 2017, the company said.
CMPort is China’s largest port developer, with a comprehensive ports network along coastal China as well as South Asia, Africa, Europe, and Mediterranean.
For 2017, the company set out three strategic goals, those being consolidation and unification of the West Shenzhen Port Zone and stepping up of efforts in improving both the software and hardware of the homebase port; seeking to capture opportunities for expansion of the port network layout within China, and expansion of overseas ports network.