OLP prof­its jump 13 pct

Kathimerini English - - Focus - ILIAS BELLOS

Pi­raeus Port Au­thor­ity (OLP), whose man­age­ment has been un­der China Cosco Ship­ping’s con­trol since the fourth quar­ter of 2016, posted a 13 per­cent in­crease in pre­tax prof­its last year.

This was achieved through a 20.3 per­cent drop in ad­min­is­tra­tive costs and a 4.3 per­cent con­trac­tion in salaries, while turnover rose 3.6 per­cent to 103.5 mil­lion eu­ros.

Pre­tax prof­its reached 11 mil­lion eu­ros, against 9.8 mil­lion in 2015. Af­ter-tax earn­ings amounted to 6.7 mil­lion eu­ros.

Cosco in­tends to in­vest 137.5 mil­lion eu­ros in OLP this year.

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