Portek’s profits up 26%
Singapore-based port operators Portek International Ltd. said a doubling of box traffic at its terminals helped it achieve a 26 percent rise in net profits to S$22.2 million ($13.3 million), for its fiscal year ended June 30.
Portek’s net profit in the previous fiscal year was $17.6 million ($10.5 million).
Revenues for the Portek’s fiscal year rose 21 percent to S$76.4 million ($45.7 million) from $63.1 million in the year-earlier period.
Portek operates terminals in Algeria and Indonesia, including since August 2004 a new terminal in Jakarta handling 250,000 TEUs a year.
Portek’s terminal operations ended the year with a 65 percent growth in revenue to S$11.9 million ($7.1 million) from $7.2 million. Overall throughput at Portek’s terminals was about 534,522 TEUs, a rise of 106 percent.
“Portek’s terminal operations business is experiencing enhanced operating margins as a result of increased efficiencies due to the increase in throughput. We are certainly on the lookout for more opportunities in this business,” said Larry Lam, Portek’s chairman and managing director.
Portek’s profits up 26%
