China’s Jiangsu Lianyungang Port Co has warned of a significant fall in profit for its 2015 financial year ended 30 December 2015.
The Shanghai-listed port company announced that it expects to record a 45-50% plunge in profit for 2015 compared to 2014.
In 2014, the company made a gain of RMB103.71m ($15.74m), pointing to a projected profit of RMB46.67m to RMB51.86m last year.
“Due to the macroeconomic impact from the world and China, the port’s cargo volumes in 2015 recorded a visible fall compared to 2014. The slowing port business has also led to weakened operating results,” Jiangsu Lianyungang Port stated.
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