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CSX-listed companies file Q1 financial statements

May Kunmakara / Khmer Times Share:
The Sihanoukville Autonomous Port is Cambodia’s only deep-sea port. Supplied

Grand Twins International and Sihanoukville Autonomous Port reported big revenue gains during the first quarter of the year, while Phnom Penh SEZ experienced a drop in profits.

All three companies are listed in the Cambodia Stock Exchange (CSX) and filed their financial statements yesterday.

Revenue at Grand Twins International increased by 33 percent to reach $23 million.

“Orders from our customers abroad increased, and we also increased profits by offering sewing and packaging services to other local companies.

“In a nutshell, the increase in revenue during the first quarter was the result of a hike in sales and a decline in administrative expenses.

“We will keep building good relationships with customers to support our positive business performance,” the company told Khmer Times.

Sihanoukville Autonomous Port also reported a large increase in revenue during the first quarter of the year, moving from $12.4 million in the previous quarter to $14.81 million in Q1, a 19 percent increase.

“Our good business performance followed an increase in cargo volume,” the company said in its report to CSX.

However, the company reported a net loss of $2.8 million as a result of exchange rate fluctuations between the US dollar and the Japanese Yen, with the company having to repay loans to the Japanese government that it used to expand the port.

Phnom Penh SEZ, meanwhile, experienced a revenue loss of 18.32 percent, earning only $1.19 million compared to $1.45 million in the previous quarter.

The company explained that the drop was caused by a sharp decline in the sale of land plots in the SEZ.

“Revenue from land sales declined. We will try to recover by focusing on renting facilities and other services,” the company said.

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