CMPort net profit rose 19.8% to HKD6,529 million in 1H 2019

During the first half of 2019, affected by a number of downside risk such as the deceleration of growth of global economy as well as trade war, the growth of global ports throughput slowed down and the growth of business volume of ports in China also declined during the first half of 2019. Facing the global economic pressure, the Group upheld the strategic principle of “leveraging on its long-term strategy, tapping the current edges, driving through technology and embracing changes”, and focused on the “Project of Improving Quality and Efficiency” as a pivot. By conducting scientific researches on the changes in market conditions, the Group made great efforts in expanding overseas ports network in response to the adjustments of the international industrial landscape. At the same time, the Group accelerated integration and development internally and strengthened synergic cooperation externally, thereby enhancing professional capabilities, improving risk management and control, in return for a steady growth of business. During the first half of 2019, the Group’s ports handled a total container throughput of 54.56 million TEUs, up by 1.4% as compared with the corresponding period last year, and bulk cargo volume of 223 million tonnes, down by 10.7% as compared with the corresponding period last year.

 

As of 30 June 2019, the Group recorded a revenue of HK$4,464 million, down by 19.7% over the same period last year, which was mainly attributed to the disposal of equity interest in China Merchants Port Group Co., Ltd. (formerly known as “Shenzhen Chiwan Wharf Holdings Limited”or “Shenzhen Chiwan”) last year. Profit attributable to equity holders of the Company amounted to HK$6,529 million, representing an increase of 19.8% over the same period last year, which included a gain of HK$3,281 million (net of tax) recognised from the completion of the Group’s disposal of the restructured land in Qianhai during the period, as well as fair value gain on financial assets, while the amount for the same period last year included a gain from the disposal of equity interest in Shenzhen Chiwan. Profit attributable to equity holders of the Company from ports operation totaled HK$7,067 million,up by 19.3% year-on-year

 

To appreciate shareholders for their continuous support, the Board of the Company proposed a 2019 interim dividend of 22 HK cents per ordinary share, flat on the same period last year. Shareholders may elect to receive the interim dividend in cash or by way of scrip dividend.