Sihanoukville Port's profit rise jump 220% YoY on expansion

The state-owned Sihanoukville Autonomous Port (PAS) saw a jump in profit by 219% YoY or $7.57 million to about $11 million in the second quarter of this year compared to $3.43 million in the same period of last year, according to a senior official of the port. The official said in the second quarterly report released by PAS for 2022 that the stock exchange-listed port has earned approximately $22.27 million as total revenue in the April-June period of this year, an increase by $1.47 million or 6.26% from about $21 million in the same period of last year. The port generates its revenues mainly from stevedoring, lift-on and lift-off services, which accounts for nearly 50% and 30%, respectively of the total revenue, while vessel services account for 17.22%, followed by storage in the warehouse and yard, according to the report. Other revenues include transportation, passenger vessel, special economic zone, rental income, and other revenues. All these revenues account for less than 1% of the total revenue, except storage in warehouse and yard at the port which is the sole international deep-sea port on a land area of approximately 125 hectares along the coastal line of Cambodia. Lou Kimchhun, Chairman and CEO of PAS, said container cargoes, cargo throughput and an increase in unrealized foreign exchange gain (Japanese Yen) were the key factors that contributed to the sharp rise of the port's comprehensive income for the second quarter of this year. (Source: Khmer Times)