Shanghai International Port Group Co, China's largest port operator, announced yesterday that its net profit jumped 39% to RMB 1.02 billion in the first quarter of this year from RMB 733.9 million in the same period of 2009, due to rising shipping demand amid the recovering global economy. The port operator's revenue grew 18% year on year to RMB 4.35 billion in the first quarter of this year, according to the company's first-quarter results.
The company's container throughput grew 15.5% year on year in the first quarter, and its bulk cargo throughput surged 52.3% year on year during the period.
In 2009, Shanghai International Port's net profit fell 18.6% from the previous year to RMB 3.76 billion. Container throughput slid 10.7% to 25 million twenty-foot equivalent units last year, while cargo throughput dropped 1.1% to 365 million tons.
The company's container throughput grew 15.5% year on year in the first quarter, and its bulk cargo throughput surged 52.3% year on year during the period.
In 2009, Shanghai International Port's net profit fell 18.6% from the previous year to RMB 3.76 billion. Container throughput slid 10.7% to 25 million twenty-foot equivalent units last year, while cargo throughput dropped 1.1% to 365 million tons.