Shanghai Zhenhua Port Machinery Co, the world's biggest maker of quayside cranes, said first-quarter profit rose 28 percent as the company sold more equipment to help harbors cope with rising cargo traffic.

Net income climbed to 452 million yuan (US$58.56 million), or 0.15 yuan a share, from 353 million yuan, or 0.23 yuan a share, a year earlier, the company said in a statement to the Shanghai stock exchange.

Zhenhua, which makes about 70 percent of the world's container cranes, plans to expand factories to fill bigger orders as ports and shipping lines handle more trade. The company said last week it will sell US$250 million worth of cranes this year to A.P. Moeller Group, parent of the world's largest shipping line.

Source:佚名