Tianjin Port Dev't suffers 45.8% decline in net profit in 2008

Published: 26 Apr 2009 17:49:55 PST

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Apr. 27, 2009 (China Knowledge) - Tianjin Port Development Holdings Ltd<3382> announced that its net profit declined 45.8% from the previous year to RMB 130 million.

The company's turnover was RMB 1.26 billion in 2008, reflecting a year-on-year increase of 5.46%.

Last year, Tianjin Port Alliance International Container Terminal Co Ltd, partly held by Tianjin Port Development, handled 1.62 million TEUs. Tianjin Port Development's throughput at its other ports was 2.77 million TEUs, and its total bulk goods throughput was 13.1 million tons.

The company's market share in Tianjin ports rose 13% to 52%.

Yu Rumin, the CEO of Tianjin Port Development, said that domestic business has shown strong growth momentum since March, and that the company expected to realize growth in container throughput in 2009.