China Merchants Ports 1st-Half Net Profit Rose to HK$3.15 Billion

By Joanne Chiu Features Dow Jones Newswires

China Merchants Port Holdings Co. (0144.HK) posted an 86% jump in net profit for the first half, thanks to a one-off gain and higher volume handled by the company's ports.

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The Hong Kong-listed company said Thursday net profit for the six months ended June 30 was 3.15 billion Hong Kong dollars (US$402.6 million), up from HK$1.69 billion a year earlier.

Revenue rose 5.5% to HK$4.06 billion from HK$3.85 billion.

The company attributed the earnings strength in part to a HK$813 million gain from the sale of its stake in China International Marine Containers (Group) (000039.SZ) during the period.

The unit of state-owned China Merchants Group declared an interim dividend of 22 Hong Kong cents a share and a special dividend of HK$1.35 to celebrate the 25th anniversary of its listing.

Write to Joanne Chiu at joanne.chiu@wsj.com

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(END) Dow Jones Newswires

August 31, 2017 00:40 ET (04:40 GMT)