Energy: Imports fuel port firm's net
(Shanghai Daily)
Updated: 2006-08-28 17:11
Dalian Port (PDA) Co, operator of China's largest crude oil terminal, said
first-half profit rose 55 percent, helped by the country's growing energy
imports.
Net income rose to 375.2 million yuan (US$47.1 million), or 0.16 yuan a
share, from 242.4 million yuan, or 0.12 yuan, a year earlier, the Dalian,
northeast China-based company said in a statement to the Hong Kong stock
exchange. Sales rose 18 percent to 725.1 million yuan.
Dalian Port, which handled 11 percent of China's oil imports in 2004, sold
shares in April to finance expansion plans. The port is adding capacity, as
China, the world's second-largest energy user, imported 21 percent more crude
oil and fuels in the first half, boosting volume at the nation's terminals,
Bloomberg News said.
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