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Mercantile Ports & Logistics booked a full-year loss as it continued to develop a port and logistics facility in Mumbai, India.
Pre-tax losses for the year through December amounted to £3.3m, compared to losses of £3.4m.
A first test vessel docked at the port in November and an official inauguration ceremony took place on 8 March.
'2018 was a year of progress and that has continued into 2019,' executive chairman Nikhil Gandhi said.
'Customers have been secured and the inauguration ceremony, alongside our first revenue generating cargo movement, were important milestones.'
'With a growing economy and a settled political backdrop which is supportive of infrastructure development and the company, I am excited about the prospects for MPL.'
At 9:31am: (LON:MPL) Mercantile Ports Logistics Limited Ord Npv share price was 0p at 1.81p