PSA’s profit grows in 2012

   The global container terminal operator PSA International said Thursday it made an operating profit of $1.5 billion in 2012, an increase of 6.7 percent over 2011.
   PSA’s revenue grew 4.3 percent to $3.7 billion, while it’s net profit rose 10.7 percent to $1 billion.
   Volume through PSA’s global terminals rose 5.2 percent to 60.1 million TEUs. Volume at its flagship facility in Singapore rose 6.4 percent to 31.3 million TEUs, a record for Singapore. At its terminals outside of Singapore, volume rose 3.9 percent to 28.8 million TEUs.
   “Difficult operating environments and uncertainties are likely to continue into 2013 with the lingering sovereign debt crisis in Europe, the outstanding ‘fiscal cliff’ issues in the United States and the simmering political tension between countries in various parts of the world,” said Fock Siew Wah, group chairman at PSA International, in a statement. “Even so, I remain confident that the collective commitment of our management, staff and unions to work very closely together, and with the cooperation of our customers and partners, will put us in good stead to overcome any challenges that we may face.” – Eric Johnson