Sunday, September 21, 2014

Ports IB increases its invoicing by 20% in the first third of the year

The public company Ports IB (Ports de les Illes Balears) has invoiced  4,2 million euros during the first four months of the year, which means an increase by 20% compared to the same period last year, according to a statement by the Department of Tourism and Sports.

This confirms the growth which started in previous years and was consolidated in 2013.

The result of the first third of the year shows a revenue of 1.342.812 euros, 71% more than in the first 4 months of 2013.

It has been possible to increase the operating costs by 3%, after a two-year freeze, although total costs are reduced thanks to a decrease in the outstanding capital and reduction of financial expenses.

In 2013 the income rose to 18,5 million euros, 18% more than previous year. The differential  is due to the updating of concession fees and to the increased marine traffic, as well as the commercial activities in the 42 regional ports.

Last year´s accounts were closed with a revenue of 7,3 million euros compared to the 3,4 million euros in 2012. The benefit will be destined according to good accounting practices for compensation for accumulated losses in previous years, reserve funds and port policies.

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