Wilson Sons’ profit has skyrocketed almost sevenfold as a result of stronger towage demand and growth in container terminal operations.
The Rio de Janeiro-based tug and terminal operator posted BRL 111m ($22.7m) in profit for the second quarter, up 583% from the BRL 16.3m earned during the same period last year.
Wilson Sons attributed the higher results to higher towage volume and average revenue per manoeuvre, a robust volume recovery in the Rio Grande container terminal and a strong recovery in offshore energy-linked services.
