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PPSP and PAS report strong performances

May Kunmakara / Khmer Times Share:

Phnom Penh Special Economic Zone (PPSP) and Sihanoukville Autonomous Port (PAS) ¬– both public companies listed in Cambodia’s nascent stock market – reported solid growth during the first half of the year.

According to financial reports filed to the Cambodia Stock Exchange (CSX), total revenue at PPSP reached $3.32 million in the first half of the year, up from $2.36 during the same period last year – an increase of more than 40 percent.

In the second quarter alone, PPSP’s revenue jumped by more than 134 percent, reaching $2.12 million.

“We faced significant challenges during the first half of the year, but we put some strategies in place to ensure we add value to our shareholders and revenue continues to grow,” chairwoman Lim Chiv Ho said.

“The main factor behind the sharp increase in revenue was a good performance of our land selling and leasing operations.

“In the future, we will try to increase revenue from renting and other services,” she added.

Revenue at Sihanoukville Autonomous Port (PAS) also saw a significant spike, growing by 24.4 percent to reach $32.34 million.

During the second quarter, PAS earned more than $17.52 million, a hike of 28.92 percent.

“The increase in revenue is the result of an increase in cargo shipments,” PAS said, adding that it will focus on increasing the port’s lifting capacity to continue the positive performance.

Shares in PPSP closed at 2,720 riel yesterday, while PAS’s shares traded at 5,300 riel.

The other companies publicly traded in Cambodia are Phnom Penh Autonomous Port, Grand Twins International and Phnom Penh Water Supply Authority.

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