Profit down at Global Ports

Russian ports operator Global Ports yesterday reported a 16 per cent drop in 2012 profit, on broadly flat revenues. Profit for the full year was logged at $123.5m (£81.7m), down from $146.9m in 2011, while revenue came in stable at $501.8m. Global Ports said the Russian market continues to grow much faster than the global container market and is outperforming high growth markets such as India, Brazil and China.