Tianjin Port Development Holdings posts H1 net loss of $13.3m
Chinese port operator Tianjin Port Development Holdings said it swung to a first-half net loss from a net profit a year earlier, as the global economic downturn stunted export-related demand for port services in China, Dow Jones reported.
The company's net loss for the six months ended June 30 was US$13.3 million compared with a net profit of $117.7 million a year earlier.
Revenue fell 8.2 percent to $477.9 million from $520.6 million a year earlier.
Container throughput at Tianjin Port's terminals during the first half totaled 1.21 million TEUs, down 6.7 percent from a year earlier.
The company's net loss for the six months ended June 30 was US$13.3 million compared with a net profit of $117.7 million a year earlier.
Revenue fell 8.2 percent to $477.9 million from $520.6 million a year earlier.
Container throughput at Tianjin Port's terminals during the first half totaled 1.21 million TEUs, down 6.7 percent from a year earlier.