BRAZIL'S Santos Port Authority (SPA) ended the third quarter with a net profit of BRL136 million (US$26 million), a growth of 38.3 per cent on 2021's numbers.
The port moved 42.8 million tonnes in the quarter, an increase of 17.8 per cent, the port's best quarter ever. The cargo volumes drove revenues upward, reports London's Port Technology.
In the first nine months of the year, net income increased 55.2 per cent over the same period in 2021 and totalled BRL416 million, surpassing the result for the full year of 2021, when SPA had a result of BRL329 million.
Santos handled 486,300 TEU in September setting a new historical record.
SPA's director of administration and finance, Marcus Mingoni, commented: "The successive advances in the rationalization of expenses and revenue optimization allowed the company to reach a high level of efficiency, allowing it to absorb impacts of the magnitude that were the strong maintenance dredging expenses in the period and, even so, to record the best profit for the third quarter of Porto's history."