Cargo Handlers reports 15% profit decline for the year

Cargo Handlers is reporting reduced profits of $273.68million.

This is down 15 per cent from the $322 million earned in the prior year.

Meanwhile, the company generated revenues of $473.47 million, which was 8 per cent below what it earned in the prior year.

Cargo Handlers say the suspension of the use of ISO containers for LNG deliveries negatively affected the port's throughput quantities.

It noted that there were fewer than anticipated activities involving home porting cruise vessels this year when compared with the prior year.

But Cargo Handlers revealed that steady inflows of cement and an increase in the tonnage of port cargo handled helped to improve revenues.