Greece's Piraeus Port maintains revenue growth in Q3

ATHENS, Oct. 25 The revenue of Greece's Piraeus Port Authority S.A. reached 62.3 million euros (65.85 million U.S. dollars) in the third quarter (Q3) this year, up by 18.2 per cent year-on-year, the company said on Wednesday.

Gross profit in the same period increased from 31.5 million euros last year to 40.2 million euros, an increase of 27.8 per cent. Earnings after taxes amounted to 27.2 million euros, 28 per cent more than last year's 21.2 million euros in Q3.

The results of this Q3 follow the overall positive trend so far this year. The company said in a press release that the upward trend reinforced the business development of the country's largest harbour in recent years.

From Jan. 1 to Sept. 30 this year, PPA recorded 164.7 million euros in revenue, up from 145.8 million euros a year ago.

Gross profit in the first nine months increased by 19.5 per cent to 99.4 million euros, while earnings after taxes for this period reached 65.9 million euros, up by 39.9 per cent.

Almost all the company's operating segments continued contributing to the overall increase, with cruise, container and car terminals and ship repair zones at the forefront, despite challenges of the energy crisis and the inflationary economic environment, the company said. (1 euro = 1.06 U.S. dollars) Enditem