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Kerry 2016 profit up 4pc to US$244.6 million as revenue leaps 14pc HONG KONG's Kerry Logistics 2016 net profit increased four per cent year on year to HK$1.9 billion (US$244.6 million), drawn on revenues of HK$24 billion, which jumped 14 per cent. Kerry said it will sell its 15 per cent stake in Hong Kong cargo terminal Asia Airfreight Terminal (AAT) that is held by its unit Torres Investments, to Dubai-based Holistic Capital Investments for HK$375 million. Other AAT shareholders are also selling to Holistic, a move which will give it 35 per cent, bringing the combined value of the deal to HK$875 million, reported London's Air Cargo News. In its Hong Kong stock-exchange filing, Kerry said the cash raised in the sale will be used

SINGAPORE's global port operator, PSA International (PSA), suffered a 7.5 per cent year-on-year decline to S$1.17 billion (US$835.49 million) despite a three per cent increase in annual revenue to S$3.68 billion.

PSA also enjoyed at 5.5 per cent increase in container throughput to 67.63 million TEU in 2016 with its local flagship, Singapore Terminals, contributing 30.59 million TEU while operations outside add another 37.04 million TEU, up 10.6 per cent year on year.

Said PSA International CEO Tan Chong Meng: "2016 was a period of unrelenting trials and tribulations. Burdened with a prolonged period of sluggish trade, sustained low oil prices, excess liner shipping capacity and depressed freight rates, the industry also had to deal with an unprecedented scale of consolidation through alliancing and merger of major shipping lines, and the complicated coordination tasks needed to ensure containers get to the importers in the aftermath of a major player becoming defunct."

PSA is ranked No 4 among global terminal operators, behind Hong Kong's Hutchison Port Holdings, China's Cosco's Shipping Ports and Maersk's APM Terminals.

Time:2018/2/2 17:45:39
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