Market Report

PPAP’s Revenue Slips Again in May

State-owned Phnom Penh Autonomous Port’s revenue maintained a downward trend for five months straight
Phnom Penh Autonomous Port (PPAP). Kiripost/Siv Channa
Phnom Penh Autonomous Port (PPAP). Kiripost/Siv Channa

Total revenue for Phnom Penh Autonomous Port (PPAP) slipped five months straight ended May 31, 2023, falling 24 percent to $14.2 million as opposed to $18.7 million in the corresponding period a year ago.

According to its filing with Cambodia Securities Exchange, port operations recorded a 20 percent drop at $10.7 million compared to $13.4 million last year, while port authority fees climbed 10 percent year-on-year (YoY) to $1.9 million.

Other services, denoting revenue from dredging services, sand management, surveying and buoy installation, container maintenance and repairs, and rental from land and buildings, surged 279 percent to $484,960 in the first five months. In comparison to the same period in 2022, other services amounted to $128,102.

For the month of May, revenue slipped seven percent to $3.4 million from $3.6 million from May last year, the filing showed. It noted that income from port operations dipped nine percent to $2.7 million from $3.0 million last year.

Port authority grew marginally YoY to $393,093 from $383,675 in May 2022.

At close, the counter rose 0.14 to settle at 14,420 riel, with 225 shares transacted for a full market capitalization of 1.7 trillion riel ($399.3 million).