Panama Canal's net income rose to $3.45 billion in fiscal year despite drought
ReutersOct 25, 2024 7:14 PM
PANAMA CITY (Reuters) - The Panama Canal's profit increased 9.5% in the fiscal year ended in September to $3.45 billion despite a severe drought that reduced the number of vessels that passed through the waterway, its authority said on Friday.
A 5% reduction in operational costs helped the canal to ease the effect of the drought over its finances. Revenue increased by $18 million to $4.99 billion, the authority added.
(Reporting by Elida Moreno and Marianna Parraga; Editing by Leslie Adler)
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