Santos Brasil swings back to black in Q3

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Tuesday, November 14, 2017

Container terminal operator Santos Brasil posted a profit in 3Q17, reversing a loss in the year-ago period due to lower expenses.

The company posted a net profit of 1mn reais (US$303,306) compared to a net loss of 1.1mn reais in 3Q16.

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Operating expenses dropped 20.2% to 31.7mn reais, while net revenue was down 6% to 209mn.

Santos Brasil managed to reduce its net debt to 2.1mn reais at the end of the third quarter from 66mn in the year ago period.