Global Ports reported weak volumes in both its cargo and container operations for the first half of 2019.
The company said that its commercial ports had been affected by the macroeconomic environment during the six-month period and also cautioned that while the third quarter was “historically an important quarter” for its commercial ports, trading so far had “remained weak”.
Global Ports now expects full-year 2019 organic growth in its adjusted underlying earnings to be in the low single digits.
Chief executive Emre Sayin said that GP’s commercial ports were “not immune to macroeconomic factors” and said that recent trading had been “challenging”.
“However, our previous experiences suggest that the trading performance will improve over time,” said Sayin.
“Trading at our cruise ports has once again been very positive and we continue to work hard to deliver on new cruise port investments and management agreements.”
Source: Share Cast