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SIPG profit rises 15%, revenue flat

SIPG profit rises 15%, revenue flat
Shanghai International Port (Group) Co (SIPG) has registered a rise in profit in the first half of 2014 even as revenues stayed flat.

Profit in the first half ended 30 June 2014 was recorded at RMB2.93bn ($476.82m), an increase of 15% compared to RMB2.55bn in the same period of 2013, according to Shanghai-listed SIPG.

Revenue, however, remained flat at RMB13.8bn.

Shanghai port, operated by SIPG, handled a total container throughput of 20.33m teu in the first seven months of this year, up 5.3% year-on-year.

Shanghai port is currently the world’s busiest container with a 2013 throughput of 36.62m teu, beating its closest rival Singapore port which moved 32.6m teu.