Piraeus Port Authority (PPA) recently held its annual briefing to disclose last year's earnings to members of the Hellenic Fund and Asset Management Association.

The PPA reported revenues of $115.9 million, up from $111.5 million in 2015 for an increase of 3.6 percent in the midst of issues such as an economic downturn and refugee crisis, according to a press release on the port authority website. Profit before taxes amounted to $12.3 million, up from 9.8 million in 2015.

The increase in revenues happened even though PPA paid an extra $1.1 million for increased concession fees in 2016.

"In 2016, the new PPA management ensured the smooth transition and reorganization of the Company and prepared the implementation of the Investment Plan," PPA CEO Capt. Fu Chengqiu said in a press release. "The 2017 is the first year of building and developing the new PPA," said.