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Dalian Port registers 7% fall in full year profit

Dalian Port registers 7% fall in full year profit
Dalian Port Company has posted lower net profit for 2015 compared to the previous year due mainly to a fall in throughput, despite improved revenue.

Net profit for the year ended 31 December 2015 was recorded at RMB484.33m ($74.62m), down 7% from RMB520.77m in 2014 due to the drop in throughput and thus a decrease in the gross profit of its bulk grain and ore segments, which are affected by the economic conditions.

Revenue for last year was reigstered at RMB88.86bn, representing an increase of 11.9% from RMB79.42bn in 2014, due primarily to the growth of the trading business.

Dalian Port is anticipating the 2016 global economy recovery to remain “arduous”, and that it will face greater downward pressure in the short term.

“It is expected that the domestic economic growth will continue to slow down and the macro-control will shift towards supply-side and structual reforms. With the challenges of both domestic and global economy, the central government aims at stabilising economic growth, adjusting the economic structure and implementing moderate reforms,” Dalian Port said.