Israel’s Ports authority – NIS 119M profit for first quarter

Mr. Amos Ron Israel’s Ports Authority director general announced that the authority has ended up the first quarter of 2004 with an income of NIS 447m and profit before tax and depreciation of NIS 119m
30.05.04 / 00:00
Israel’s Ports authority – NIS 119M profit for first quarter
30.05.04
Israel’s Ports authority – NIS 119M profit for first quarter
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Mr. Amos Ron Israel’s Ports Authority director general announced that the authority has ended up the first quarter of 2004 with an income of NIS 447m and profit before tax and depreciation of NIS 119m.
 
Mr. Ron said that the income registered during the first three months indicate an increase of 7% compared to the income in first quarter of 2003 ( NIS 328m ) and reduction in expenses of 12%.
 
The decrease in expenses is attributed to an effective costs reduction policy adopted by the authority mainly in wages and salaries.
Mr. Ron added that an increase of 9% in the quantities of cargoes moved through the three ports – 8.9 million tons, contributed NIS 35m  to the total income generated by the authority.

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