Port division boosts SAAM results
The Chilean port terminals, logistics and towage company SAAM reported a net income of US$60.4m in 2017, an increase of 11% compared with the previous year.
SAAM, which operates in Latin America, reported that sales and earnings before interest, tax, depreciation and amortisation (EBITDA) also performed well, growing by 10% to US$684m and 6.8% to US$181.9m respectively.
SAAM CEO Macario Valdés said: “The year 2017 was challenging for both SAAM and the industry in general. However, we observed a trend towards recovery late in the year.
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