PSA reports growth in 2016 revenue

Singapore-headquartered port operator PSA International has reported a 3% year-on-year rise in revenue to US$3.7bn in 2016, owing to a strong showing by its container terminals outside Singapore.

The group’s profit before tax was however down 6% year-on-year to US$1.4bn, a drop the company attributed in part to a higher depreciation rate.

The company’s throughput went up by 5.5% year-on-year to 68m teu in 2016, boosted by a 10.6% rise to 30.6m teu in container volumes outside Singapore.