Global Ports reports steep fall in revenue

Terminal operator Global Ports has reported a 24% year-on-year fall in its revenue in the first half of 2016.

The company’s revenue fell from US$214.3m in the first six months of 2015 to US$163.7m in the same period this year.

In the first six months of 2016, the group’s profit went up by 346% year-on-year to US$113m as the company refinanced more than half of its debt portfolio thus decreasing its total debt by US$44m.