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Dalian Port profit drops 11% in first nine months

Dalian Port profit drops 11% in first nine months
China’s Dalian Port Company has reported a fall in profit for the first nine months of 2015, despite an increase in revenue.

Profit for the period from January-September 2015 was recorded at RMB371.18m ($58.52m), a 11.3% decline compared to the gain of RMB418.54m in the same period of last year.

The group revenue, however, rose by 17.5% year-on-year to RMB6.51bn due mainly to the increase in throughput, contributions from the container agency business, as well as the tugging business and information services.

The growth in revenue was offset by the reduction of the bulk grain and ore throughput.

“Affected by the overall downturn of the industry and the ports in the surrounding areas, transhipment of ore at ore terminals decreased,” Dalian Port Company said. It added that the bulk grain terminal was also impacted by the general downturn in the grain transportation industry of China.