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PPA Continues Robust Growth

Yu-Zenggang COSCO Cosco.jpg
Majority Cosco Shipping-owned Piraeus Port Authority (PPA) has reported a continued robust increase of profits and income in the first half of 2023 by 49.6% to €38.7m - compared to the same period of 2022.

The result came after PPA achieved a significant 10% increase in turnover during the first half of 2023, which reached €102.4m.

The company attributed the renewed growth in turnover to increased revenue across all sectors of its activities - especially driven by the cruise sector where passenger numbers nearly doubled compared to the corresponding period of the previous year.

There was also an increase in container handling in the three piers of the port, despite the challenges currently facing the transport sector.

PPA executive chairman, Yu Zenggang, expressed his satisfaction with the renewed positive financial results of the port and the strong start of the fiscal year 2023, highlighting the dedication to achieving a balanced growth and continuously improving services across all port sectors has consistently played a pivotal role in driving these positive financial results, firmly establishing the port as comprehensive, high-quality, and highly competitive.