TIDMGPH

RNS Number : 8233H

Global Ports Holding PLC

05 August 2019

Global Ports Holding Plc

Trading update

Global Ports Holding Plc ("GPH Plc" or "Group"), the world's largest independent cruise port operator, today announces a half year trading update ahead of its interim results announcement on 20 August 2019.

Trading at our commercial ports has been affected by the macro-economic environment, with both cargo and container volumes weak in the period. Q3 is historically an important quarter for our commercial ports and trading so far in the period has remained weak. Our cruise business has performed strongly in H1 and this performance has continued into Q3. Management now believe that for full year 2019 organic growth in the Group's Adjusted EBITDA will be low single digit.

Emre Sayin, Chief Executive Officer said:

"Our commercial ports are not immune to macro-economic factors and recent trading as a result has been challenging. However, our previous experiences suggest that the trading performance will improve over time. Trading at our cruise ports has once again been very positive and we continue to work hard to deliver on new cruise port investments and management agreements."

 
 CONTACT 
 For investor and analyst enquiries:          For media enquiries: 
 Global Ports Holding, Investor Relations     Brunswick Group LLP 
 Martin Brown, Investor Relations             Azadeh Varzi and Imran Jina 
  Director 
 Telephone: +44 (0) 7947 163 687              Telephone: +44 (0) 20 7404 
                                               5959 
 Email: martinb@globalportsholding.com        Email: GPH@brunswickgroup.com

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August 05, 2019 02:00 ET (06:00 GMT)

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