China Merchant Pacific Holdings (CMHP) announced their full year results and dividend distribution. Here are my thoughts about it.
Background Information
For those new to this might want to check out some of my past commentary on CMHP:
The FY quarterly reports
Q1,
Q2,
Q3 and
Q4, full year are here.
Toll Road Performance
The results are not bad. You can see both YTW and Beilun are rather mature roads. Perhaps that’s the kind of growth rate you only expect from these mature roads.
Guihuang is being relocated and have toll gates removed, so we will see less contribution and future results to be totally in a bit ......
