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Phnom Penh port sees nearly $6M generated in this year’s first quarter

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The Phnom Penh Autonomous Port’s (PPAP’s) container terminal in Kandal province’s Kien Svay district. Heng Chivoan

Phnom Penh port sees nearly $6M generated in this year’s first quarter

Cambodia Securities Exchange- (CSX-) listed Phnom Penh Autonomous Port (PPAP), a state-owned enterprise, generated nearly $6 million in the first quarter of this year, a more than 25 per cent increase compared to the same period last year, a quarterly report filed with CSX said.

The first quarter report, released on CSX, shows that during the period this year, the port earned $5.87 million in total revenue from its business and services. This was a 25.84 per cent increase from the $4.65 million recorded in the same period last year.

The report shows that net profit after tax was $3.63 million, up 218.37 per cent compared to the first quarter of last year, which was slightly over $1.14 million.

The above achievement is attributed to consumer confidence as the port provides a fast and transparent service, according to the port’s board of director’s statement.

The statement said the port will continue to expand its existing services and businesses globally while creating new services in the port and logistics sectors.

PPAP’s total assets as of March 31 amounted to more than $189 million, a 2.11 per cent increase, while its total capital amounted to more than $142 million, up 1.99 per cent, according to the report.

PPAP’s share price closed at 9,200 riel ($2.27) each on Tuesday, with a trading volume of 3,704 shares.

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