Ports-to-toll-road conglomerate China Merchants Holdings International will report 27 per cent year-on-year growth in net profit to HK$504 million for the first half, according to a Daiwa Securities forecast.
The forecast is backed by 'solid' throughput growth at ports in Shenzhen in which the red chip has stakes, said analyst Keith Li, who recently met China Merchants management.
This is despite year-on-year growth in China's exports tumbling from 14 per cent in the January-to-April period to just 1 per cent in May-June.
Mr Li attributed the growth partly to Shenzhen's ports taking some container traffic from rivals in Hong Kong.
The Hong Kong Port and Maritime Board said throughput at Kwai Chung Terminal fell 1 per cent year on year in the first half.
Port-related operations accounted for 59 per cent of China Merchants' net profit last year.
