Lirquén port 2004 profits drop 12.8%

Chilean private port Puerto Lirquén posted a 6.27bn-peso (US$10.7mn) consolidated net profit in 2004, down 12.8% from the previous year, the port reported to the country's securities regulator (SVS). Revenue dipped 3.34% to 18.4bn pesos due to exchange rate differences and operating profit fell 10.7% to 6.63bn pesos due to increased operating costs. Further, continued high administrative and sales costs plus a drop in non-operating gains impacted the bottom line. The 5Mt/y capacity port in southern Region VIII moved 4.07Mt last year, up 5.36% from 2003, due principally to increased shipments of forestry products, and the offloading of non-forestry products such as fertilizers. Lirquén is the region's most important port in terms of cargo movement. Principal shareholders are companies belonging to Chile's Matte group, while other stakeholders include local woodchip and lumber company Celulosa Arauco y Constitución and fuel distributor Copec.