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CMHI improves earnings in first half

CMHI improves earnings in first half
China Merchants Holdings (International) Co (CMHI) has recorded improved earnings in the first half ended 30 June 2015 on the back of higher container throughput activities.

Net profit for the first six months stood at HKD2.78m ($358,700), up 29.3% compared to HKD2.15m in the previous corresponding period.

Revenue from January to June also rose by 4.1% year-on-year to HKD4.08m as the group’s ports handled increased container throughput.

During the period under review, CMHI ports moved a total container throughput of 41.35m teu, a rise of 5.3% year-on-year. Sales of dry cargo containers and reefers amounted to 820,000 teu, up 18.2%.

Hong Kong-listed CMHI said the second half of this year ahead is still marked by various uncertainties, due mainly to geopolitical tensions and risks to the global financial system.

“Global trade is unlikely to significantly improve in the near-term and is expected to grow by no more than 4%,” CMHI commented.

“The formation of mega shipping alliances will accelerate the consolidation of resources and intensify the inter-alliance competition, which, in turn, will affect the market order in the shipping space, while on the other hand, will bring about both new challenges and opportunities to the port industry,” it said.