Business News


Port Operator Reports Slump in Revenues, Profit for 9 Months

Koper, 30 November (STA) - The operator of Slovenia's sole maritime port, Luka Koper, reported revenues of EUR 87.9m for the first nine months of 2009, a drop of 15% on the same period the year before. The company's profit in this period slumped 77% to EUR 4.2m.

Luka Koper said its results were significantly affected by the global economic crisis, which resulted in a major drop in international sea transport.

The company responded with restructuring and managed to cut costs by 5% to EUR 78m in the first nine months of the year despite a 10% increase in labour costs.

Operating profit stood at EUR 9.5m, which is 54% less than in the first three quarters of 2008.

Reviewing the results, the supervisory board concluded that the company's results were taking a turn for the better, with transshipment increasing in all fields in recent months.

Total transshipment for the year is expected to surpass 13 million tonnes, which is above plans.

Revenues for the year are expected to fall 12% short of that last year, while profit is forecast at EUR 11.5m.

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