Dalian Port 2007 profit hits RMB 611.4 mln

Chinese port operator Dalian Port (PDA) Co<2880>, a Hong Kong-listed unit of Dalian Port Corp, said on Friday its 2007 net profit shrank 3.2% from the previous year to RMB 611.4 million, with every share winning RMB 0.21.

The company posted a net profit of RMB 631.6 million in 2006, buoyed by RMB 141.9 million interest income derived from its global offering completed in 2006, said the company in a filing with the Hong Kong Stock Exchange. Exclusive the gains, Dalian Port would have seen a 16.9% year-on-year increase in net profit.

Operating revenue for the same period surged 35% year-on-year to RMB 1.57 billion, as the world's fast-growing major economy in 2007 spurred a foreign trade boom.

The port operator has an 11-berth Dalian Container Terminal and Dalian Oil Products Terminal. Its board proposed a final dividend of RMB 0.08 a share.