The cruise activities of Global Ports Holding, the Turkish company that is the world’s largest cruise port operator, recorded higher revenues and EBITDA, but its non-cruise business developed in the other direction and the group’s interim loss deepened as a result.

Total revenues fell by 0.2% to $54.6 million and adjusted EBITDA also decreased by the same percentage, to $34.8 million, in the first half of the year compared to the same period last year.  Underlying profit fell by 92.7% to $0.9 million, largely due to a 62.4% rise in financing costs that reached $18.4 million.

Revenues in the cruise operations of the company rose by 13.3% to $23.9 million, but non-cruise operations posted a 9.1% fall, to $30.8 million.

EBITDA in the cruise business of the company improved to $16.8 million, an increase of 14.3%, but in the non-cruise part of its operations, Global Ports Holding experienced a 13.1% weakening in the figure, to$22.3 million, it said in a statement.

The number of passengers handled at the group operated ports rose by 26.8% to 2.1 million, fuelled by a larger portfolio than last year.