Shanghai International Port Group Co , China's largest port operator, reported that its net profit for the third quarter of 2009 was RMB 1.02 billion, representing a year-on-year decrease of 30%.
The port operator attributed the drop in net profit to weak global trade volume during the period.
According to the company's filling with the Shanghai Stock Exchange, revenues of Shanghai Port stood at RMB 4.16 billion during the Jan-Sept period this year, a drop of 11% compared with RMB 4.67 billion in the same period of last year.
Net profit for the first nine months also fell 30% to RMB 2.73 billion, because the port handled fewer containers amid the global financial crisis, said the company in the report.
The port operator attributed the drop in net profit to weak global trade volume during the period.
According to the company's filling with the Shanghai Stock Exchange, revenues of Shanghai Port stood at RMB 4.16 billion during the Jan-Sept period this year, a drop of 11% compared with RMB 4.67 billion in the same period of last year.
Net profit for the first nine months also fell 30% to RMB 2.73 billion, because the port handled fewer containers amid the global financial crisis, said the company in the report.