Phnom Penh Autonomous Port maintains growth in Q1
Phnom Penh Autonomous Port maintains growth in Q1
Locally-listed Phnom Penh Autonomous Port (PPAP) reported $7,770,742 in revenue for the first quarter of 2021, up 2.19 per cent over the $7,603,877 posted in the corresponding period last year.
In an unaudited report filed to the Cambodia Securities Exchange last week, PPAP said the growth was buoyed by revenue from port operations, which brought in $6,202,796 for the quarter, up 8.15 per cent year-on-year from $5,735,539.
However, it noted, revenue from all other sources declined. The “Port Authority” reeled in $884,886, down 21.55 from $1,127,963, “revenue from other services” clocked in at $77,550, down 38.30 from $125,679, while “other income” totalled $605,510, down 1.49 per cent from $614,696.
Cambodia Logistics Association (CLA) president Sin Chanthy told The Post on April 19 that remaining in positive territory, even barely, was terrific news at this stage of the Covid-19 pandemic, which he said has sapped the vitality from all modes of the transport industry.
"The Covid-19 epidemic has had a significant impact on the transport sector," he said.
According to Chanthy, the greater part of Cambodian exports pass through Sihanoukville Autonomous Port, with only about 20 per cent of goods shipped via the capital’s river port.
Putting a slew of factories out of business, the February 20 community transmission and its reverberating effects will only spell further disaster for goods shipping if the contagion is not controlled in a timely manner, he warned.
But offering a silver lining, Chanthy claimed that with government intervention, things are likely to improve soon.
