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Global Ports Investments foreshadows coronavirus hit; profit improves

Fri, 6th Mar 2020

Cruise ports operator Global Ports Investments lowered its outlook amid the ongoing spread of the coronavirus. The warning arrived as the company swung to an annual profit as a depreciation of the Russian rouble trimmed the value of its US dollar-denominated debt. 'The company's outlook for 2020 may be impacted by the coronavirus (COVID-19) outbreak in China, which has lowered visibility on what to expect in 2020,' Global Ports said. For the year ended 31 December 2019, the company reported a pre-tax profit of $96.6m compared with a loss of $53.6m in 2018, and revenue increased by 5.3% to $361.9m on-year. Story provided by StockMarketWire.com

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