With economic recovery, Santos Brasil profit rises 38%

Santos Brasil posted a 38% rise in net profit in the fourth quarter of 2020, to R$14.3 million ($2.4 mm), compared to the same period in 2019, a document sent to the market shows. Despite this, the company closed the year with a loss of R$13.8 million ($2.4 mm) against the profit of R$15.4 million ($2.6 mm) recorded in 2019. Port activity in Brazil and the world remained active in 2020, but suffered from supply and demand shocks.

Source: Money Times