China Merchants’ Profits Rocket in H1


The Board of Directors of China Merchants Holdings (International) has announced its interim results of the company and its subsidiaries for the period ending June 30, 2015, where the group saw a significant increase in profits and throughput.

Li Jianhong, Chairman of the Board, said: “Benefited by contribution from overseas ports, in particular the Sri Lanka project, container throughput handled during the first half of 2015 rose 5.3% year-on-year to 41.35 million TEU.

Profit attributable to equity holders of the company amounted to more than US$358 million for the six months ending on June 30, 2015, an increase of 29.4% over the same period in 2014, while recurrent profit attributable to equity holders of the company grew 17.1% year-on-year to more than $318 million.

The group's ports in mainland China delivered container throughput of 30.36 million TEU, or an increase of 5.0% year-on-year, enabling China Merchants to sustain its leading position amongst China port operators.

The group's operations in Hong Kong and Taiwan delivered an aggregate container throughput of 3.03 million TEU, a decline of 18.7% over the same period 2014.

However, container throughput handled by the group's overseas projects grew by 20.4% year-on-year to 7.95 million TEU, as rapid business growth was seen at its Colombo International Container Terminals (CICT).

The company entered into a strategic cooperation framework agreement with CMA CGM SA in July 2015, whereby investment opportunities in connection with ports, logistics and related infrastructures along the “One Belt, One Road” will be actively investigated and evaluated.

Regarding the on-going establishment of its West Shenzhen home-base port, an implementation and investment plan on the widening of Tonggu Channel, which will effectively improve the navigation environment in the West Shenzhen Port Zone, has been formulated after continuous discussion with the Shenzhen government.

The group had also commenced the development of ‘Mawan Smart Port’, which involves converting the multi-purpose berths owned by Shenzhen Haixing Harbor Development Company, a subsidiary of the Group, into two 200,000-tonne container berths, as a container terminal that is automated, intelligent, green and low-carbon.

Li Jianhong concluded: “Looking into the second half, though global economic growth and trade velocity is not expected to accelerate from current pace, while China's foreign trade is expected to encounter challenges, with the group seeking to fully capitalise on the extraordinary development opportunities brought by the policies promoted by China, to facilitate synergies among port projects in China and overseas, to balance short-term gain with long-term growth, as well as to continue its adherence to a prudent financial policy.”

(Source: China Merchants)

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