SIPG records improved earnings for 2016


China’s Shanghai International Port (Group) Co (SIPG) has achieved improved earnings for 2016, with Shanghai port retaining its crown as the world’s busiest container port.

Net profit for SIPG was recorded at RMB6.94bn ($1bn), up 5.7% compared to the profit of RMB5.56bn in 2015.

The port operator’s full year revenue rose by 6.3% year-on-year to RMB31.36bn.

The higher earnings were aided by growth in container throughput as Shanghai port registered volumes of 37.13m teu last year, representing a slight 1.6% increase from the volumes of 2015.

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