China Merchants Port 1H Net HK$4.71B Vs. Net HK$1.55B >0144.HK

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By Justina Lee

Demand for container shipping is likely to rise in the second half of the year as the gradual recovery of the world’s economy leads to more global trade, China Merchants Port Holdings Co.

The conglomerate also expects the pandemic in the major overseas economies to ease further in the second half, and noted that it will continue to seek high-quality investment opportunities and strengthen its regional market expansion.

The company on Monday reported first-half net profit of 4.71 billion Hong Kong dollars (US$604.8 million), significantly higher from HK$1.55 billion a year earlier, supported by higher throughput of bulk cargo handled.

Revenue jumped to HK$5.66 billion from HK$4.08 billion a year earlier, and China Merchants Port declared an interim dividend of 22 Hong Kong cents a share.

Write to Justina Lee at justina.lee@wsj.com

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