CMPort expected more than 170% profit increase in 1H 2021

On 14 July 2021, China Merchants Port Holdings Company Limited announced positive profit alert for the 2021 interim results. The Group is preliminarily expected to record an increase of profit for the six months ended 30 June 2021 by more than 170% as compared with the same period last year.
 

The expected increase was primarily attributable to three reasons: 1.the increase in container throughput and bulk cargo volume. 2.expected significant increase in sharing of profits from associate companies, of which Shanghai International Port (Group) Co., Ltd. estimated its net profit increased by 122.5%. 3. expected gain on deemed disposal from the merger of Liaoning Port Co., Ltd.
 

In the first half of 2021, CMPort achieved double-digit growth on it's container throughput and bulk cargo volume at home and abroad. The Group's ports handled a total container throughput of 66.57 million TEUs, up by 21.3% compared with the corresponding period last year, and bulk cargo volume of 284 million tonnes, up by 42.8% over the same period of the previous year. Among that, the aggregate container throughput in Mainland China, Hong Kong and Taiwan increased by 17.0% year-on-year, and the container throughput in overseas increased by 36.4% year-on-year.
 

During the period, the Group's container throughput in West Shenzhen Homebase Port increased significantly, and TCP Participações S.A. in Brazil has reached record high throughput volume on March and May. Moreover, Hambantota International Port Group Limited has progressed to build a large-scale home appliance and electronic industrial park as well as an energy hub of Sri Lanka, whereas Djibouti International Free Trade Zone has contracted and registered 162 enterprises to the park. In addition, Mawan Smart Port has been officially put into operation in June, which not only further enhances the competitiveness of WSZ, but also helps to stabilize the logistics supply chain in South China.
 

With the steady progress of vaccination, the global economy in 2021 is sustainably recovering from the post-pandemic era. CMPort will continue to actively grasp the continuous uptrend of the shipping industry, make full use of the competitive advantage of it’s comprehensive global layout to provide strong transportation support for global trade, in order to speed up the goal of “to be a world's leading comprehensive port service provider” and create values for the Group's stakeholders.

Source: CMPort

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