Shun Tak posts rise in transport profits


Shun Tak Holdings Ltd recorded a sevenfold increase in operating profit for its transport division last year. The shipping and property conglomerate told the Hong Kong Stock Exchange that the transportation division collectively posted HK$65 million (US$8.37 million) in operating profit, which represents a 743 percent year-on-year improvement. Yesterday’s results show that on a turnover basis, transportation – including Turbojet Ltd ferries and a 131-strong fleet of Macau and cross-border buses run by Shun Tak & CITS Coach (Macao) Ltd – accounted for 38 percent of the group’s HK$5.49 billion consolidated turnover last year.