Port operators PSA International “held its ground” in terms of throughput, revenue and net profit in 2014, according to the year end results, just published.
It posted 65.44million teus, representing an increase of 5.8% from the previous year, with PSA’s flagship Singapore Terminals contributing 33.55million teus.
PSA Group’s revenue was 2.9% higher than 2013 while profit from operations declined 1.1% due to higher operating cash costs and depreciation. Overall net profit for the year was 1.7% lower at S$1.4billion.
Fock Siew Wah, Group Chairman, PSA Inernational, said:”2014 turned out to be a mixed year for the global economy. PSA’s business health depends on global trade and the shipment of goods in containers. We are therefore truly thankful that, notwithstanding the overall sluggish global economic and trade growth, PSA’s group-wide performance held its ground in terms of throughput, revenue and net profit.”