REG - Mercantile Ports&Log - Trading Update

Mercantile Ports & LogisticsAnnouncement

22/12/2022 07:00

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RNS Number : 5394K  Mercantile Ports & Logistics Ltd  22 December 2022

22 December 2022

Mercantile Ports & Logistics Limited

("MPL" or the "Company")

Trading Update

Mercantile Ports & Logistics Limited (AIM: MPL) which is operating and
continuing to develop a port and logistics facility in Navi Mumbai,
Maharashtra, India is pleased to announce that, following a strong final
quarter of trading, the Company expects to meet revenue forecasts for FY 2022.
This year, MPL's facility at Karanja has handled approximately 1.2m tonnes of
various bulk commodities and the Company sees strong momentum going into the
next financial year. The Company has all the requisite infrastructure and
permissions in place to handle container movement and it expects to commence
handling of containers in 2023, which will be an additional revenue stream for
the Company.

 

Jay Mehta, CEO of MPL said "This is the first full year of uninterrupted cargo
handling operations at our facility. Every month we continue to service new
clients, both on a spot and contracted basis. Next year our pipeline looks
healthy, which should enable us to build on our successes of 2022. Going into
2023, we are excited to be expecting to start handle new commodities including
liquid bulk cargo such as base oils and bitumen".

 

Enquiries:

  MPL                   C/O SEC Newgate

                        +44 (0) 20 3757 6880

 Cenkos Securities plc  Stephen Keys

 (Nomad and Broker)     +44 (0) 20 7397 8900

 SEC Newgate            Isabelle Smurfit / Elisabeth Cowell

 (Financial PR)         +44 (0) 20 3757 6880

                        mpl@newgatecomms.com (mailto:mpl@newgatecomms.com)

 

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