Ningbo Port net profit up 20.9% to 2.2 billion yuan in 2010

Ningbo Port recorded a 20.92 percent year-on-year rise in 2010 net profit to 2.2 billion yuan, reports 163.com, citing a company filing.Basic earnings per share increased 11.76 percent to 0.19 yuan.


Sales revenue rose 22.81 percent year-on-year to six billion yuan.
The company plans to distribute cash dividends of 0.3 yuan (including tax) for every 10 shares held.


Ningbo Port recorded a 19.76 percent year-on-year increase in cargo throughput to 323 million tons. It handled 13.39 million twenty-foot equivalent units (TEUs), an increase of 29.14 percent year-on-year.


The port was top-tanked among the eight ports in China in terms of throughput growth.


Iron ore throughput rose 14.68 percent year-on-year to 93.98 million tons while that of crude oil rose 4.02 percent to 40.41 million tons.


The company attributes the improved performance to the recovery in both the domestic and the global economy.


According to Haitong Securities (600837), Ningbo Port recorded the third-fastest growth in container throughput in China.
(Source:http://en.portnews.ru)