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China Merchants Holdings (International) has announced an audited consolidated group profit attributable to shareholders for the 2006 calendar year of HK$2,540 million (US$325.1 million), an increase of 7.4 per cent over the previous year.
Although not a huge growth in profits, the result is significant because it comes at a time when most ocean shipping lines are reporting sharp declines in earnings, driven by weaker freight rates and higher operational and fuel expenses.
Turnover for 2006 rose 46.9 per cent to $4.37 billion, up from $2.97 billion in 2005.
Within this total, the group's core port operations, including container manufacturing and box yard management services, contributed $1.91 billion to the turnover for this period, up from $1.07 billion the previous year, representing an increase of 79.9 per cent year on year.
Container throughput handled by the group's ports in 2006 surged 46 per cent over 2005 to 40.24 million TEU.
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