The Beijing-based group, pointed to the economic slowdown in the US, combined with rising costs, successive natural disasters and other factors affecting the Chinese economy. Sinotrans’ liner shipping services and a large proportion of its freight forwarding activities are focused on the transpacific and intra- Asian trades.
In H1 2008, Sinotrans’ revenue increased by 14 per cent to CNY20.8 billion (€2.17 billion), while operating profit (EBIT) grew by 5.3 per cent, reaching CNY699.4 million (€73.3 million).
Th e 2008 performance represented a considerable slowdown compared to Sinotrans’ H1 2006/7 revenue and especially in terms of its EBIT growth. Last year, for example, the company’s revenue increased by 19.7 per cent and EBIT by 30 per cent.
The volume carried by Sinotrans’ express services increased by 32 per cent and the number of containers handled in the shipping agency business grew by 9 per cent.
