Chinese port operator China Merchants Holdings (International) Co. said Thursday its 2011 net profit fell 5.3% due to rising administrative expenses and finance costs, MarketWatch reports.
The blue chip company, a unit of state-owned China Merchants Group, said its net profit for the 12 months ended Dec. 31 was HK$5.57 billion, down from HK$5.88 billion a year earlier.
Revenue rose 63% to HK$9.47 billion from HK$5.81 billion.
The company recommended a final dividend of HK$0.68, down from HK$0.78 a year earlier.
China Merchants is the largest container terminal operator by volume in Shenzhen, mainland China's second-biggest port by volume after Shanghai.
The blue chip company, a unit of state-owned China Merchants Group, said its net profit for the 12 months ended Dec. 31 was HK$5.57 billion, down from HK$5.88 billion a year earlier.
Revenue rose 63% to HK$9.47 billion from HK$5.81 billion.
The company recommended a final dividend of HK$0.68, down from HK$0.78 a year earlier.
China Merchants is the largest container terminal operator by volume in Shenzhen, mainland China's second-biggest port by volume after Shanghai.