Profits' growth for Shenzhen Expressway

PUBLISHED : Monday, 20 March, 2000, 12:00am
UPDATED : Monday, 20 March, 2000, 12:00am

Shenzhen Expressway has posted a 10 per cent rise in attributable profit to 337.7 million yuan (about HK$315.85 million) for the year to December 31.

Turnover increased 41 per cent to 342.06 million yuan, as the Guangdong and Hong Kong economies picked up in the second half of last year.

Earnings per share were 16.8 fen, compared with 15.2 fen in the previous year.

A final dividend of six fen was declared against four fen last year.

Figures provided by the company showed that toll charges were reduced over last year, spurring an increase in the overall volume of traffic.

Highway NH107 saw a 5.9 per cent increase in traffic but only a 1.4 per cent increase in toll income. Meiguan Expressway, 51 per cent-owned by the company, saw a 21.5 per cent increase in traffic but only a 10.7 per cent increase in toll income.

Jihe East's daily traffic rose 47 per cent and toll income grew 24.1 per cent.

The company said that the linking of the Guangtang Expressway this year, connecting Dongguan City with the Meiguan Expressway, would improve the Meiguan Expressway's returns this year.

Shenzhen Expressway expects its Yanba Expressway, the only trunk-highway for the eastern coastal areas of Shenzhen, to be finished by the end of this year.

The company said the equipment installation of 40 per cent-owned Wutongling Cableway would begin trial operations in May.