Shanghai International Port (Group) <600018>, operator of the Mainland's busiest container port, posted an 18% gain in profit last year.
The company forecast earnings will rise this year.
Net income increased to RMB 2.96 billion from RMB 2.5 billion in 2005, the company said in a statement to the Shanghai stock exchange yesterday. Revenue climbed 13% to RMB 12.48 billion.
Shanghai Port's cargo volume rose 21% as the country's increasing foreign trade boosted demand for sea transport. The city may surpass Hong Kong as the world's second-busiest container port this year, after the second phase of a US$16 billion new harbor began operations in December.
The company forecast earnings will rise this year.
Net income increased to RMB 2.96 billion from RMB 2.5 billion in 2005, the company said in a statement to the Shanghai stock exchange yesterday. Revenue climbed 13% to RMB 12.48 billion.
Shanghai Port's cargo volume rose 21% as the country's increasing foreign trade boosted demand for sea transport. The city may surpass Hong Kong as the world's second-busiest container port this year, after the second phase of a US$16 billion new harbor began operations in December.