China Merchants Port posts HK$ 7.2 billion, benefits from Sri Lanka terminals
China Merchants Port Holdings (0144) reported today net profit for the year ended December 31, 2018, grew by 20.2 percent year-on-year to HK$7.24 billion. The port operators said the group benefited from overseas operations, including in Sri Lanka, while Hong Kong throughput declined by more than 5 percent in 2018.
Revenue reached HK$10.16 billion, up by 16.9 percent from 2017. Revenue from Hong mainland China, Hong Kong and Taiwan was HK$6.53 billion.
One customer has accounted for more than 10 perent of total revenue amounting to HK$1,23 billion.
Basic earnings per share were HK$2.1954.
A final dividend of 73 HK cents was declared.
The company said containers handled increased by 6 percent on-year to 109.06 million TEUs, for 102.90 million TEUs in 2017. Ports in mainland China contributed container throughput of 80.73 million TEUs, up by 4.7 percent year-on-year. Operations in Hong Kong and Taiwan contributed an aggregate container throughput of 7.67 million TEUs, representing a growth of 2.5 percent from last year.
China Merchants Port said the company benefitted from the rapid growth of Colombo International Container Terminals in Sri Lanka, Lomé Container Terminal S.A. in Togo and Kumport Liman Hizmetleri ve Lojistik Sanayi ve Ticaret Anonim Sirketi (“Kumport”) in Turkey. Total container throughput of overseas ports grew by 12.9 percen year-on-year to 20.66 million TEUs
Containers handled by ports in Hong Kong declined by 5.7 percent on-year, of which the containers handled by ports in Kwai Tsing dropped by 4.7 percent on-year. Modern Terminals and China Merchants Container Services delivered an aggregate container throughput of 5.93 million TEUs, up by 2.5 percent year-on-year, which outperformed the overall market of Hong Kong.
Shares of China Merchants Port added 1.34 percent, or 22 HK cents, to HK$16.66 as of noon.
SL govt could have earned this profit if they did the good management under SL authority..Mattala also same , they are profitable business . but this fools do not like to shine them due done by previous govt.
Sooooooooooooo, After all that ‘Mahameru Parwathaya’ said to be blocking the Hambanthota harbour (by the UNP liers to mislead stupid SL voters) seems to have dissolved slowly!!!! and earning billions to those who now use it!
Mattala airport story is the same. It is not the birds, It is the bird brains without any vision, in power, and the stupid voters unable to think and see the truth for what it is, is the problem!
Curse of the country!