Port of Piraeus’s Profit Increased in 2017
Piraeus Port Authority released its Annual Financial Report 2017 according to which PPA's turnover amounted to € 111.5 million compared to € 103.5 million in 2016, showing an increase of 7.7%.
The operations at the Container Terminal increased by € 7million, where container throughput increased by 70.6%. Furthemore, the income from the concession fee of the Pier II and Pier III increased by € 3.4 million, MANA correspondent reported.
The profits showed an increase of 92% and the net result is improved by 68.6% to € 11.3 million compared to € 6.7 million of the year 2016.
The operating expenses increased slightly by 2% to € 94.8 million compared to € 92.8 million in 2016, while the staff wages increased by 17.2% compared to the previous year.
Chairman and CEO of PPA SA Captain Fu Chengqiu stated: The first full year of the new Management in the port of Piraeus was marked by very positive results which are mainly attributed to the employees of the company. We believe that in the coming years, with the implementation of our investment plan which is already in progress, we will further improve both the business operation and the economic efficiency of PPA S.A.
The profits showed an increase of 92% and the net result is improved by 68.6% to € 11.3 million compared to € 6.7 million of the year 2016.
The operating expenses increased slightly by 2% to € 94.8 million compared to € 92.8 million in 2016, while the staff wages increased by 17.2% compared to the previous year.
Chairman and CEO of PPA SA Captain Fu Chengqiu stated: The first full year of the new Management in the port of Piraeus was marked by very positive results which are mainly attributed to the employees of the company. We believe that in the coming years, with the implementation of our investment plan which is already in progress, we will further improve both the business operation and the economic efficiency of PPA S.A.