Piraeus port authority announces a 117% rise in pre-tax earnings in the first half of 2018

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Piraeus Port Authority on Wednesday reported a 22.1 pct increase in its first half turnover to 63.5 million euros, from 52 million in the corresponding period last year. The company attributed this positive development to a significant increase in revenue from the operation of Piers II and III piers (+29.5 pct), revenue from the container terminal (+20.1 pct), car terminal (+29.7 pct) and ship repair (+48.3 pct).

Pre-tax earnings totaled 18.7 million euros, up 117 pct compared with the same period in 2017, while after-tax earnings soared to 13.3 million euros, from 4.4 million last year, the highest ever recorded in the first half. Payroll cost fell to 28.8 million euros from 30.2 million euros last year.

“ The very positive financial results prove once again the dynamism of Piraeus Port Authority SA and this trend continues in the second half of 2018,” Captain Fu Chengqiu, CEO said.

Source: AMNA