PSA’s positive results

Of the 56.09m total, PSA’s Singapore terminals handled 29.37m teu, up 6.1% and a new record volume. The Group’s terminals outside Singapore achieved a combined throughput of 27.72m, a 5% increase on the previous year.

In tandem with volume growth, PSA Group revenue rose to S$4.31bn (US$3.43bn) while net profit decreased by 3.7% to S$1.35bn partly impacted due to higher operating costs in the inflationary cost environment.

Fock Siew Wah, Group Chairman, PSA International commented: “2011 began with optimistic expectations of sustained recovery for the global economy. However, the outlook became increasingly cloudy, exacerbated by a series of unanticipated shocks that rocked the world economy. Nevertheless, the PSA Group managed to weather the challenging business environment and emerged with a set of positive results, handling 57.09m teu in 2011, an increase of 5.6% compared to the year before.”