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Reuters
5 days ago
- Business
- Reuters
India's Adani Ports posts quarterly profit rise on cargo volume growth
Aug 5 (Reuters) - India's Adani Ports and Special Economic Zone ( opens new tab logged a quarterly profit rise on Tuesday, boosted by growing cargo volumes and said its Israeli port of Haifa "operated unhindered" in a quarter which saw the Israel-Iran conflict. India's biggest private port operator is seen as a proxy for long-term infrastructure prospects in the world's fastest growing major economy. The company operates 15 domestic ports and terminals, and four international ones - including one in Haifa, a major port city in Israel. The Haifa port clocked highest quarterly revenue and operating core profits since the group acquired and privatised it in 2022, Adani Ports said. A 12-day-long conflict between Iran and Israel in June had many ships avoiding West Asia and rerouting through a longer route around the southern tip of Africa, lifting volumes at major Indian ports by 6%, ElaraCapital said. Cargo volumes for Adani Ports grew, opens new tab 11% on-year during April-June, faster than 8% in the preceding quarter and 7.5% year-ago, opens new tab. That lifted its revenues by 31% to 91.26 billion rupees ($1.04 billion). The port operator's consolidated net profit rose 6.5% on-year to 33.15 billion rupees for the quarter. Adani Ports maintained its fiscal year 2026 forecast of cargo volumes at 505 million metric tonnes to 515 million metric tonnes. The company said Executive Chairman Gautam Adani will now be its non-executive chairman. The Indian billionaire would cease to be key managerial personnel of the company, it added. ($1 = 87.8140 Indian rupees)
Reuters
5 days ago
- Business
- Reuters
India's Adani Ports reports quarterly profit rise on cargo growth
Aug 5 (Reuters) - India's Adani Ports and Special Economic Zone ( opens new tab reported a quarterly profit rise on Tuesday, boosted by growing cargo volumes. India's biggest private port operator is seen as a proxy for long-term infrastructure prospects in the world's fastest growing major economy. Its consolidated net profit rose 6.5% on-year to 33.15 billion rupees ($377.6 million) for the April-June quarter. The company said Executive Chairman Gautam Adani will now be its non-executive chairman. Consequently, the Indian billionaire would cease to be key managerial personnel of the company, it said. Cargo volumes for the ports operator grew, opens new tab 11% on-year in the quarter, faster than 8% in the preceeding quarter and 7.5% year-ago, opens new tab. That lifted its revenues by 31% to 91.26 billion rupees. Adani Ports maintained its fiscal year 2026 forecast of cargo volumes at 505 million metric tonnes to 515 million metric tonnes. ($1 = 87.7890 Indian rupees)
Reuters
5 days ago
- Business
- Reuters
India's Adani Ports posts quarterly profit rise as cargo volumes grow
Aug 5 (Reuters) - India's Adani Ports and Special Economic Zone ( opens new tab reported a higher first-quarter profit on Tuesday, boosted by growing cargo volumes. Consolidated net profit rose 6.5% on-year to 33.15 billion rupees ($377.6 million) for the April-June quarter. ($1 = 87.7890 Indian rupees)
Rhyl Journal
13-05-2025
- Business
- Rhyl Journal
Council given ‘independent advice' on Denbighshire Leisure sale
At a behind-closed-doors meeting on March 26, council members voted 25-18 in favour of selling Denbighshire Leisure Ltd (DLL) to the private sector. DLL was in the process of being sold to Merseyside-based private equity firm River Capital for £1.5million, but it was confirmed on April 30 that the investor has now pulled out. Yesterday (May 12), the council published a 'position statement' on the matter, in which it also addressed a 17-page report by the Association for Public Service Excellence (APSE), and commissioned by public service union UNISON, which heavily criticised the proposal. It stated: 'This document was prepared without the council's involvement or consent. 'The document is, therefore, based on the instructions given by UNISON, and specifically states that it should not be relied upon by any other party. 'The document contains a disclaimer to the effect that it does not constitute legal advice, does not draw conclusions and does not make recommendations. 'The document raises many questions which could have been answered had APSE or UNISON involved the council in the production of the document. 'The council committed to closer working with unions as the proposal progressed, and arrangements had been put in place prior to the council being informed that it would not proceed.' The council said it sought independent, professional advice when considering the proposal to sell off DLL. This included advice on a number of issues, such as the council's power to enter the transaction, procurement and contract issues, employment and pension matters, taxation, subsidy control and property issues. Independent advice was also received regarding the valuation of DLL, the council said. Its statement added: 'The council has been asked about the costs of this proposal to-date. The council has spent £62,000 to-date on independent advice. 'Although the proposal that generated this advice will not now proceed, much of that advice will be relevant to alternative models for the company and is not therefore an abortive cost. 'It should also be noted that this advice was sought in anticipation of a significant capital receipt of £1.5m to be received by the council for the sale of the shares and the revised contractual relationship would not only have prevented existing costs from increasing, but would result in the fee paid by the council for the provision of leisure services reducing in each year of its operation over a 10-year period by 10 per cent. 'This 10 per cent reduction in year two would be £152,000, increasing cumulatively to a reduction of £930,000 by year 10.' Prior to the March 26 meeting, meanwhile, councillors were invited to two workshops about the proposal. The council said the decision to approve the proposal on March 26 followed a 'lengthy debate' and 'substantial information supported by professional advice'. On the decision to hold the meeting behind closed doors, the council said: 'The investor and DLL operate in a commercial world, and it was considered that, in order to protect the commercial interests of all parties, the proposal should be considered in private. 'This was confirmed by a vote by elected members in accordance with the law.' The council concluded by saying it 'remains committed to helping DLL to find a way to continue this success'.
Los Angeles Times
11-03-2025
- Sport
- Los Angeles Times
L.A. Times Sports Scores APSE Triple Crown
For the fifth year in a row, the Los Angeles Times has earned the prestigious Associated Press Sports Editors' triple crown, a best-in-show award presented to publications that place in the top 10 among the nation's largest newspapers in the categories of print portfolio, digital and projects. 'Amid all the changes the company has been through the past few years, including a dramatically earlier print deadline, it is a credit to the talent, skill and work ethic of the Sports staff and the departments that work with us that we earned APSE triple crown honors for a fifth consecutive year,' said Assistant Manager for Sports Iliana Limón Romero. 'No other major publication can claim such a streak, and it is worth celebrating.' Among the honors: Staff Writer Jack Harris placed in the top 10 for beat reporting for his work chronicling the Dodgers' run to the 2024 World Series and in the top 10 in the explanatory category for an article examining the Dodgers' role in MLB's pitching injury epidemic. 'Jack has worked hard to develop sourcing that allowed him to give our readers unique insight into the Dodgers' season, and that effort was rewarded,' Limón Romero said. In addition, Staff Writer Sam Farmer placed in the top 10 in long features for his article about Chargers coach Jim Harbaugh's passion for 'The Rockford Files.' 'Long feature is arguably the most competitive category in the APSE contest, drawing hundreds of entries from top writers around the country,' Limón Romero noted. 'It is very difficult to place in the top 10, so we're especially proud Sam Farmer for placing with this unique profile.' Staff Writer Thuc Nhi Nguyen also placed in the top 10 in explanatory for her examination of Simone Biles' iconic Yurchenko double pike vault skill. And Columnist Dylan Hernández placed in the top 10 nationally in columns for the first time with a portfolio that included reporting from Japan on the secret to Dodger Yoshinobu Yamamoto's success. Also, The Times had two entries among the top 10 of the breaking news category. Columnist Gustavo Arellano, Staff Writer Paul Pringle and former staff writers Adam Elmahrek and Nathan Fenno were recognized for being the first to report Shohei Ohtani's attorneys accused his interpreter of massive theft tied to alleged gambling. Staff Writer Bill Shaikin also placed in the top 10 for being the first to obtain and publish witness video in former Dodgers pitcher Julio Urías' domestic battery case. The Times earned triple crown honors by placing in the top 10 in print portfolio that included judges' review of random Sunday and daily print editions of the Sports section, an evaluation of The Times' online Sports section and the project category. The Times' project entry featured the team's bilingual coverage of the death of Fernando Valenzuela. The newspaper also earned honorable mention recognition for a special print edition examining Shohei Ohtani's journey from Japan to the Dodgers' roster. APSE will announce final rankings in the individual categories at its annual conference, scheduled for June 26-28 in Minneapolis. Learn more about the APSE awards at
