ATHENS, May 31 (GCTL) - The Greek Piraeus Port Authority, where Hong Kong-listed Cosco Pacific runs the big container terminal, posted a first quarter pre-tax profit of EUR185,400 (US$231,250) after a year on year loss of EUR2.94 million.
Revenue grew 5.3 per cent to $30 million, and there was a $652,500 profit after tax, compared with a $4.1 million loss in the first three months of 2011 with container traffic contributing the most to the upturn.
Pier I, the container terminal under the port authority, posted a 46 per cent year-on-year increase in the first quarter to 166,000 TEU. In the first four months of2012, Cosco Pacific's Pier II boosted volume 154 per cent to 679,600 TEU year on year.
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