Russia’s Global Ports H1 net profit rises 30% y/y
By: Reuters | Sep 16 2014 at 03:16 PM | Ports & Terminals
London-listed Russian ports operator Global Ports said its first-half net profit rose 30 percent year-on-year, helped by the acquisition of rival NCC in December 2013.
Net profit, attributable to equity holders, rose to $69.9 million from $53.7 million a year earlier while revenue jumped 70 percent to $286.5 million, the firm said in a statement.
On a comparable basis, revenue was down 4.7 percent due to a lower container throughput. But a weaker rouble and cost control helped hit a record margin on adjusted earnings before interest, taxes, depreciation and amortisation of 66.3 percent, it said. (Reuters)