Ashdod port nets NIS 30m. in '05

The Ashdod Port Company ended 2005 with a net profit of NIS 30 million, the company said Wednesday.

The Ashdod Port Company ended 2005 with a net profit of NIS 30 million, the company said Wednesday. Revenues totalled NIS 852m. and operational profit came to NIS 258m., from which NIS 228m. was subtracted to pay usage fees to the Israel Ports Company. The port reform implemented in early 2005 broke the ports authority into three independent port companies (Ashdod, Haifa and Eilat), and a fourth company - IPC - to maintain state control of the property. Ashdod Port Company chairwoman Iris Stark called for the usage fees to be cut by more than half, to bring them within what she said was the "accepted" range internationally of 7% to 15% of revenue.