Global Ports Holding (GPH)

Sector:

Commercial Transport

246.00p
   
  • Change Today:
    -17.00p
  • 52 Week High: 290.00p
  • 52 Week Low: 189.00p
  • Currency: UK Pounds
  • Shares Issued: 76.43m
  • Volume: 1,393,804
  • Market Cap: £188.03m

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.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

GPH Market Data

Currency UK Pounds
Share Price 246.00p
Change Today -17.00p
% Change -6.46 %
52 Week High 290.00p
52 Week Low 189.00p
Volume 1,393,804
Shares Issued 76.43m
Market Cap £188.03m

GPH Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
35.53% below the market average35.53% below the market average35.53% below the market average35.53% below the market average35.53% 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
55.28% above the market average55.28% above the market average55.28% above the market average55.28% above the market average55.28% 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
52.57% above the market average52.57% above the market average52.57% above the market average52.57% above the market average52.57% 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 14-Jun-2024

Time Volume / Share Price
12:45 100,000 @ 242.00p
12:21 56,000 @ 246.35p
17:05 2,000 @ 246.00p
16:35 9,326 @ 246.00p
16:35 230 @ 246.00p

Top of Page