Shanghai International Port (Group) Co , the operator of the world's largest port, reported lower net profit in the first half of 2011 even as cargo throughput and revenue climbed, Reuters reports.The Chinese port operator warned that a slowing global economy and soaring energy and raw material prices could affect its performance in the second half.
Net profit fell 4.5 percent from a year earlier in the six months through June to 2.49 billion yuan ($389 million) as non-recurring gains were 322 million yuan lower than the first half of 2010, it said late on Monday.
Net profit was up 9.2 percent excluding non-recurring gains and losses, it said in a report to the Shanghai Stock Exchange.
Revenue grew 16.5 percent from a year earlier to 10.6 billion yuan as cargo throughput expanded 11.7 percent in the same period, it said.
Net profit fell 4.5 percent from a year earlier in the six months through June to 2.49 billion yuan ($389 million) as non-recurring gains were 322 million yuan lower than the first half of 2010, it said late on Monday.
Net profit was up 9.2 percent excluding non-recurring gains and losses, it said in a report to the Shanghai Stock Exchange.
Revenue grew 16.5 percent from a year earlier to 10.6 billion yuan as cargo throughput expanded 11.7 percent in the same period, it said.