Bloomberg News

Thessaloniki Port Nine-Month Profit More Than Doubles on Cargo

November 30, 2011

Nov. 30 (Bloomberg) -- Thessaloniki Port Authority SA, which operates Greece’s second-biggest port, said nine-month profit more than doubled as it handled more cargo and cut costs.

Net income in the nine months through Sept. 30 rose to 8.4 million euros ($11 million) from 3.4 million euros a year earlier, the company said in a statement on its website.

The number of containers handled increased by 11.3 percent and general cargo by 17.8 percent; costs were cut by 8.8 percent, according to the statement.

Greece plans to sell part or all of its 75 percent stake in the port in 2012 as part of a program to raise 65 billion euros by 2015 from state-asset sales and real-estate development.

--Editors: Alan Purkiss, Chris Peterson

To contact the reporter on this story: Paul Tugwell in Athens at ptugwell1@bloomberg.net

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net


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