Impressive Results Recorded By Piraeus Port For Six-Month Period
Piraeus Port Authority recorded an impressive increase in net profits for the first six months of the year to the amount of 12.3 million euros. This figure represents a rise of 73% versus the relative period of last year, when profits had reached 7.1 million euros. At the same time, sales rose by 9.1% at 81.3 million euros, which was attributed among other factors to the 60,000 more domestic cargo movements (26% increase), which compensated for the decrease in transit shipments.
Another positive factor was the increase by 13% or 32,000 more movements in the port’s car terminals, which were upgraded and enhanced, thus managing to attract more transit shipments. Furthermore, a critical issue was the reduction of taxation, which from 2007 is limited to 25% for all companies, versus 29% in 2006. The port also managed to receive the total of 1.35 million euros in claims for older cases.
The port authority’s income was also increased by 7 million euros, outpacing the original target of 5.5% increase, as outlined in the company’s budget. The expenses for the first six months of the year were marginally increased by 1.5%, while the pay costs were decreased by 2.1%, thanks to a more rationalised policy of production and the limiting of overtime work. This is the third consecutive year of reduction in labour fees.
Responding to the national tragedy that has burst upon Hellas the recent days, with fires claiming the lives of 65 people, the Piraeus Port Authority has granted a donation of 200,000 euros.
Source: www.hellenicshippingnews.com
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