Chinese Xiamen Port Development has reported that in the three months to the end of September the company's net profit soared 113.1 per cent year on year to CNY89.95 million (US$11.43 million).During the third quarter of 2006 operating profit dropped by 4.2 per cent year on year from CNY39.67 million to CNY38 million, Xinhua News Agency reported. The company's revenue, generated from its core business, grew by 20.74 per cent to CNY227 million in the same period a year ago. Meanwhile, expenses rose 31.45 per cent to CNY163 million, up CNY124 million over last year.
In the first nine months of the year, the company's net profit rose 52.94 per cent over the same period last year, up from CNY102 million to CNY156 million. Operating profit grew 2.41 per cent year on year to CNY127 million.
During the January to September period, Xiamen Port Development's core business achieved revenue of CNY650 million, up 20.37 over the comparable period in 2005. Meanwhile, costs rose by 35.22 per cent over last year's CNY335 million to this year's CNY453 million, the agency added.
In the first nine months of the year, the company's net profit rose 52.94 per cent over the same period last year, up from CNY102 million to CNY156 million. Operating profit grew 2.41 per cent year on year to CNY127 million.
During the January to September period, Xiamen Port Development's core business achieved revenue of CNY650 million, up 20.37 over the comparable period in 2005. Meanwhile, costs rose by 35.22 per cent over last year's CNY335 million to this year's CNY453 million, the agency added.