Global Ports Holding PLC has said it expects results to come in at “toward the upper end” of its expectations.
The cruise ports operator reported a strong performance for the first half of the year, with an underlying pre-tax profit of $12.4 million.
Half-year profits increased by 8.5 percent compared to the same period in 2017 and total revenues reached $56.6 million, increasing by 13.7 percent.
The group said their performance for the first half of the year beat records and it expects to deliver full-year results that will be “toward the upper end of our previously stated expectation of mid to high single-digit organic growth in constant currency Revenue and Consolidated EBITDA”.
Global Ports Holding’s chief executive, Emre Sayin, said the group expects a record number of passengers in 2018 and does not expect to be affected by the Turkish Lira crisis, the currency used where most of the group’s ports are located.
“We are a global business with over 95 percent of revenues in hard currency,” he said.
The lira has slightly recovered and rose to 5.8 against the dollar, helped by the $15 billion (£12 billion) investment by Qatar.
Earlier this week, the currency reached a record low of 7.23 against the dollar.
Shares in the group (LON: GPH) are currently up 2.37 percent at 501.60 (1305 GMT).