PHNOM PENH: Despite global and regional economic uncertainty caused by Covid-19 and the Ukraine war, Phnom Penh Autonomous Port (PPAP), a state-owned enterprise listed on the stock exchange, earned more than $ 30 million from business operations in the first nine months, up 21% from the previous year.
According to the Postkhmer, unaudited financial statements submitted to CSX on December 12, PPAP’s total revenue is more than $ 25 million, a 26 percent increase. Revenue from port authorities increased by 20% to more than $ 3.19 million. Other services revenue was $ 212,287, down 13 percent; another revenue was $ 1.9 million, down 13 percent.
In July, PPAP announced the plan to increase the number of ports under its control to seven to provide greater convenience to its customers and also to cut costs, and save time.
According to the financial statements, PPAP shipped more than 3 million tonnes of cargo and fuel in the first nine months, an increase of 5.23 percent. Another 2,743 cargo ships were passing through, a 57.28 percent increase. 16 cruise ships, representing a 16% increase, 329,043 TEUs, representing a 28.33% increase, and 868 passengers, representing an 868 percent increase.