Global Ports Holding (GPH)

Sector:

Commercial Transport

 250.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 281.00
  • 52 Week Low: 189.00
  • Currency: UK Pounds
  • Shares Issued: 76.43m
  • Volume: 73
  • Market Cap: £191.08m

Global Ports warns on earnings as tariffs hit commercial business

By Sean Farrell

Date: Wednesday 11 Dec 2019

LONDON (ShareCast) - (Sharecast News) - Global Ports said annual earnings would fall after trade tariffs reduced the flow of container ships through its commercial ports.
The company reported a 10% fall in third-quarter earnings to $27.2m, unadjusted for currency swings, on revenue down 2.7% to $36.9m. Earnings from the cruise business meanwhile rose 12.9% but the commercial division suffered a 29.6% fall in earnings.

Emre Sayin, Global Ports chief executive, said: "Trading since the period end at our cruise business has continued to be in line with our expectations, while trading at our commercial business has continued to be weak. As a result of the challenges facing the commercial business, we now expect the group to deliver for the full year a decline in consolidated EBITDA in percentage terms of mid-single digit against 2018."

Cargo passing through the company's ports in Akdeniz, Turkey, and Adria, Montenegro fell by two thirds in the three months to the end of September. The European Union has imposed tariffs on Chinese goods to stop alleged dumping amid an increasingly protectionist trade climate.

Global Ports said: "Throughput container volumes were once again weak in the period and this sustained weakness has continued into Q4. Longer term an agreement to end the current escalation of trade tariffs involving China and a general improvement in Chinese GDP are, we believe, the most likely catalysts for a meaningful improvement in container throughput volumes."

The company's shares, which have slumped from 396p at the start of 2019, fell 4% to 240p at 11:36 GMT.

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GPH Market Data

Currency UK Pounds
Share Price 250.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 281.00
52 Week Low 189.00
Volume 73
Shares Issued 76.43m
Market Cap £191.08m

GPH Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
36.27% below the market average36.27% below the market average36.27% below the market average36.27% below the market average36.27% below the market average
81.82% below the sector average81.82% below the sector average81.82% below the sector average81.82% below the sector average81.82% below the sector average
Price Trend
61.37% above the market average61.37% above the market average61.37% above the market average61.37% above the market average61.37% above the market average
38.46% above the sector average38.46% above the sector average38.46% above the sector average38.46% above the sector average38.46% above the sector average
Income Not Available
Growth
53.04% above the market average53.04% above the market average53.04% above the market average53.04% above the market average53.04% above the market average
23.08% above the sector average23.08% above the sector average23.08% above the sector average23.08% above the sector average23.08% above the sector average

GPH Dividends

  Latest Previous
  Interim Final
Ex-Div 31-Oct-19 30-May-19
Paid 29-Nov-19 05-Jul-19
Amount 15.50p 21.20p

Trades for 24-Jun-2024

Time Volume / Share Price
11:58 28 @ 250.00p
11:34 13 @ 252.00p
11:32 15 @ 252.00p
11:25 1 @ 250.00p
10:04 2 @ 254.00p

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