(Alliance News) - Global Ports Holding PLC on Monday reported a narrowed annual loss and a surge in passenger numbers as the company benefited from the lifting of global travel restrictions.
The cruise port operator reported a significantly narrowed pretax loss of USD9.5 million in the year ended March 31, from USD44.5 million the year prior.
Revenue in the year jumped 66% to USD213.6 million from USD128.4 million, as the company's annual passenger numbers multiplied to 9.2 million from 2.4 million.
Chief Executive Mehmet Kutman said Global Ports' cruise operations have now returned to, or exceeded, pre-pandemic levels. Kutman also noted a "strong start" to the 2023 cruise season.
"The outlook for the cruise industry is strong and GPH is well positioned to be a key enabler and beneficiary of its continued growth and success in the years ahead," he said.
Shares in the London-based firm were up 1.3% at 202.12 pence on Monday morning in London.
By Heather Rydings, Alliance News senior economics reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Global Ports (GPH)