Full Year Results 

Global Ports to reduce Turkish exposure

Global Ports to reduce Turkish exposure

Shares in Global Ports (GPH) were marked up even though the group’s maiden set of full-year results as a public entity detailed flat sales growth, a contraction in the cash profits margin, and operating profit that halved on the previous year. In fairness, it can take time for the dust to settle when companies transition to a main board listing. So we shouldn't be surprised that profitability was constrained as a result of costs associated with the IPO, along with amortisation charges relating to port operating rights – but they weren't the main issues.

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