PSA’s creditable performance

PSA International Pte Ltd (PSA) handled 61.8m teu at its port projects around the world for the year ending December 31, 2013 up 2.91% over 2012.

The flagship PSA Singapore Terminals contributed 32.24m (+3.1%) while the overseas terminals handled 29.57m teu, up 6.3% over 2012 on a like-for-like basis. Adjusting for port portfolio changes, the Group’s like-for-like volume growth over 2012 was 4.6%.

Group revenue and expenses were higher by 3.3% and 4.4% respectively. Net profit for the year increased by 13.4% to S$1.43bn (US$1.13bn), partly attributed to one-off income from asset disposals.