The Santos Port Authority (APS) had a net profit of R$ 494 million in the period from January to September 2023, up 18.8% from 2022. The company’s net revenue reached R$ 1.2 billion, growing by 12.1% compared to the previous year. In the third quarter alone, APS reported a profit of R$ 100.6 million, a gain of R$ 56.7 million. Net revenues reached R$ 396.6 million, a 2.7% increase compared to the third quarter of 2022. The financial result demonstrated significant gains, rising from a net income of R$ 40.5 million in the third quarter of 2022 to R$ 56.7 million in 2023. This development is mainly attributed to higher returns on financial investments, benefiting from a higher cash position throughout the year and increased interest rates, resulting in significant growth in investment returns.
Source: Datamar News