Global Ports Investments foreshadows coronavirus hit; profit improves

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Cruise ports operator Global Ports Investments lowered its outlook amid the ongoing spread of the coronavirus.

The warning arrived as the company swung to an annual profit as a depreciation of the Russian rouble trimmed the value of its US dollar-denominated debt.

'The company's outlook for 2020 may be impacted by the coronavirus (COVID-19) outbreak in China, which has lowered visibility on what to expect in 2020,' Global Ports said.

For the year ended 31 December 2019, the company reported a pre-tax profit of $96.6m compared with a loss of $53.6m in 2018, and revenue increased by 5.3% to $361.9m on-year.