PSA International's 2014 profit dips

Singapore

PSA International posted a 1.7 per cent year-on-year slide in net profit to S$1.4 billion for 2014, even as revenue climbed 2.9 per cent to S$3.83 billion. Meanwhile, profit from operations dipped 1.1 per cent to S$1.88 billion due to higher operating cash costs and depreciation.

PSA handled a record 65.44 million twenty-foot equivalent units (TEUs) in 2014, up 5.8 per cent. Its flagship Singapore Terminals contributed 33.55 million TEUs, with a growth of 4.1 per cent, and PSA terminals overseas delivered a total throughput of 31.89 million TEUs, increasing 7.8 per cent.