China Merchant Pacific (CMHP) yesterday announced second quarter results and declaration of 2.75 cents  dividends.

I was rather interested to see if the recent weakness in the share price is indicative of  the market anticipating a weak set of results.

Fortunately, the results are pretty predictable.

For new investors to this may want to  take a look at this 2 articles

• Investing in the economic moat of toll roads
• China Merchant Pacific: Dividend Analysis, AGM Updates and Q1 report
• Results can be view here, here and here

If we take a look at full year profits it looks good in all areas. Net profit improved 37% for the first half from 222 mil to 304 mil. So did the top line.

Across the board, traffic actually improved. Nation wide toll reduction and toll free holidays look like its not affecting them in Q2.

The economic slow down doesn’t ...