Port of Santos profit jumps 15.6 times in the first semesterAug, 01, 2019 Posted by datamarnews
The Santos Port recorded net income of R$63.5m during the first semester, a performance is 15.6 times higher than that obtained in January-June 2018, when the positive result had been R$4m. The positive balance in Port of Santos profit attests to the fact of Codesp’s efficient management, with greater control over expenses.
According to the company, the current management practice of reviewing and renegotiating service contracts and signing new lease transition contracts at market value was fundamental to the significant brand.
Net revenue grew 12% over the first semester of 2018 to R$468.4m, and service costs decreased 23.3% to R$175.9m, thus contributing to the rise of Port of Santos profit.
“The result reflects the company’s daily efforts to meet the challenges ahead, such as the Portus pension fund and the Voluntary Dismissal Incentive Plan [PIDV],” says Fernando Biral, Director of Administration and Finance.
In addition, the company is preparing to bear the costs of dredging, a service that will be hired later this year.
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