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Sinotrans airfreight boasts profit hike.
(From Lloyds List)
Byline: Keith Wallis in Hong Kong
RISING air cargo volumes and higher freight charges helped Sinotrans Air Transport Development post a 2.91% rise in net profit in the first nine months of this year to Yuan282.86m ($34.5m). This was up from Yuan274.57m reported a year ago.
Turnover climbed 21.4% to Yuan2.63bn compared with Yuan2.17bn in the same period last year.
Sinotrans Air Transport Development is the Shanghai-listed air cargo arm of China's largest transport company, Hong Kong-listed Sinotrans, which has a 70.36% stake in Sinotrans Air Transport.
The airfreight company reported a 3.5% fall in operating profit to Yuan526.8m in the first nine months. Non-operating income grew 14% to Yuan3.47m.
The drop in operating income reflected the ...
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