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HomeMaritime NewsRegionsAsiaQinhuangdao Port nine-month profit spikes as economy recovers

Qinhuangdao Port nine-month profit spikes as economy recovers

Qinhuangdao Port nine-month profit spikes as economy recovers
The recovering economy also revenue rises and a huge spike in net profit for northern China commodities-focussed port group Qinhuangdao Port in the first nine moths, with profit rising more than fivefold to RMB857.3m ($129m) from RMB155.6m previously on  a 54% rise in revenue to RMB5.23bn.

The good results were  "all  mainly  due  to  the  increase  in  revenue  as  a  result  of the  combined  effect  of  the  stabilizing  and  recovering  macro  economy,  the  increase  in transport  volume  of  Datong-Qinhuangdao  Railway,  the  rationalized  competition  from surrounding ports and the resumed coal operating rate", Qinhuangdao Port said in a stock market announcement.

The group typically does not disclose throughput data in its quarterly updates but forecasted a higher full-year profit for 2017.

TAGS: Ports Regions China coal
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