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Anek posts first-half loss despite efforts to restructure debt.

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| September 01, 2004 | COPYRIGHT 2004 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From Lloyds List)

Byline: Nigel Lowry in Athens

GREEK ferry company Anek Lines has stumbled to a first-half loss despite lifting revenues and the positive effects of a recent debt restructuring.

The Crete-based operator reported a net loss of €9.2m ($11.2m) for the period compared with modest profits of €671,000 in the first six months of last year.

Anek cited increased depreciation charges, fuel and maintenance costs among the reasons for the result.

The company, which has a fleet consisting of 11 ferries and four ro-ros, boosted turn-over by about 9% to ...

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