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Tianjin Port Holdings Co Ltd News

29 Oct 2015

Shanghai Port Logs Quarterly Profit Fall

Shanghai International Port Group Co Ltd, the operator of the world's busiest container port, reported its first fall in quarterly net profit in over a year, providing evidence of China's economic slowdown. China, the world's second largest economy, grew 6.9 percent in the third quarter, dipping below 7 percent for the first time since the global financial crisis due to cooling trade and investments. Shanghai Port recorded a third quarter net profit of 1.4 billion yuan ($220.29 million), down 18.3 percent from the same period a year earlier, it said in a filing on the Shanghai stock exchange. That marked the first decline since the second quarter of 2014, Eikon data based on company data showed. In the first nine months, Shanghai Port's net profit dropped 3.3 percent to 4.5 billion yuan.

27 Aug 2014

Shanghai Port's Q2 Profit Down; China Trade Flagging

Shanghai International Port , the operator of the world's busiest container port, reported earnings on Wednesday that showed its second-quarter net profit fell 2.5 percent in a sign of slowing trade in China. Shanghai Port said in a Chinese-language filing on the Shanghai stock exchange that net profit for the first half was 2.93 billion yuan ($477 million). That was up from 2.55 billion yuan for January-June a year earlier. But second-quarter net profit totalled 1.49 billion yuan, down from 1.53 billion yuan a year ago, according to Reuters' calculations based on company data. That showed a sharp slowdown from the first quarter's 41 percent rise, though it was better than the 10.5 percent fall seen in fourth-quarter 2013, based on Reuters data.