Tianjin sees at least 75% growth in profit for H1 2021

It is due to the rise in revenue from the increase in container throughput and bulk cargo volume.

Tianjin Port Development Holdings Limited is expecting an increase of not less than 75% in its profit attributable to shareholders for the first half of 2021 from the $220m recorded in the same period last year.

The expected rise in profit is due to the increase of revenue due to the increase in total container throughput and bulk cargo volume it handled during the period compared to last year, it said in an announcement.

Tianjin said this is also attributable to an exchange gain from the “Hong Kong dollars denominated liabilities held by the group resulting from the appreciation of Renminbi against Hong Kong dollars in 2021,” whilst an exchange loss was posted in the same period last year.

Tianjin reminded shareholders and potential investors that the announcement is based on the preliminary review of unaudited consolidated management accounts of the group which have not yet been audited.

“Shareholders and potential investors are advised to exercise caution when dealing in the securities of the Company,” it said.