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Shanghai Port profit up 18%

(China Daily)
Updated: 2007-04-11 09:54

Shanghai International Port (Group) Co, operator of China's busiest container port, posted an 18 percent gain in 2006 profit as demand rose for sea cargo transport. Net income increased to 2.96 billion yuan, or 0.14 yuan a share, from 2.5 billion yuan, or 0.13 yuan a share, a year ago, the Shanghai-based company said in a statement to the Shanghai Stock Exchange yesterday. Revenue climbed 13 percent to 12.48 billion yuan.

Shanghai Port's cargo volume rose 21 percent as China's increasing foreign trade boosted demand for sea transport. The city may surpass Hong Kong as the world's second-busiest container port this year.