Port of Dakar sees H1 profit rise 15 pct

Port Autonome de Dakar (PAD), whose seven percent 2017 bond is traded on the Abidjan-based regional BRVM bourse, saw first half net profit rise to 3.52 billion CFA francs ($7.3 million) from 3.05 billion the previous year in the same period, Reuters reports. Turnover climbed to 15.04 billion CFA francs in the first six months, from 13.28 billion CFA the previous year, it said in a statement to the BRVM.
"An increase in own capital combined with a reduction in financial debts explains the better structure of the balance sheet as of June 30, 2011," the company said in a statement.