ECONOMY

OLP reports jump in H1 profits

Piraeus Port Authority (OLP) on Wednesday reported a hefty 208.64 percent rise in first-half profit, which came to 3.45 million euros.

The Athens-listed operator expects a further improvement in the third quarter due to handling more cruise ships in the summer.

In the January-July period, transit cruise activity was up 11.6 percent on an annual basis. OLP is extending a pier so that it will be able to handle even bigger cruise ships.

The 12-million-euro project is 95 percent subsidized by the EU.