Portek's profits more than double
PORTEK International’s profits more than doubled in the last financial year with improved margins on this port operations and engineering businesses. The Singapore-listed terminal operator and port equipment supplier reported a net profit of S$8.6m for the financial year ended June 30 this year, up 120% on the previous year. The company’s revenues fell 1% to S$138.9m in the last financial year. Portek said it achieved improved margins due to greater operating efficieny of its contaier terminal and port engineering businesses. Despite the slowdown in world trade container volumes handled by Portek’s terminals increased to 718,000 teu for the year ended June 30, up 4.5% on the previous year. Portek has a total of seven terminals in Indonesia, Algeria, Malta and Gabon.
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