Container firm posts 55.7pc surge in profit
CHINA International Marine Containers posted a 55.7 per cent rise in net profit to 66 million yuan (about HK$61.49 million) for the six months ended June.
Its turnover rose to 887.9 million yuan from the previous 536.1 million yuan. Earnings per share rose to 74.3 fens from the previous 55.5 fens. No interim dividend was paid.
Directors said its joint venture Shanghai CIMC Reefer Containers had begun plant construction and was expected to produce a sample container by May next year.
Mass production was expected to begin in the second half of 1996.
In May this year, the second phase production line expansion of Nantong Smooth Sail Containers was finished. The directors said its output in the second half of 1995 was expected to increase from 20,000 20-foot equivalent units (teus) to 40,000 teus per annum.
It received orders for 28 passenger boarding bridges for this year, of which 27 were to be delivered in the second half, the directors said.
The company had won the US$7.89 million master contract for the construction of the automated cargo handling system at Fuzhou Airport.
Its property development in Nanjing, Jincheng Garden, had been completed. Some finished apartments had been sold and the second phase of the development had started, they said.
The construction of its Jinpeng Building was progressing on schedule.
The directors said the company maintained steady growth despite the unfavourable economic environment in the second half of last year. Its subsidiaries exceeded expectations despite increases in raw material costs.
