Oakland operating profit up 4.1 to US$66 million as revenue rises 4.2pc
THE Port of Oakland increased annual operating profit 4
THE Port of Oakland increased annual operating profit 4.1 per cent to US$66 million in fiscal year 2019, drawn on revenues of $397 million, which rose 4.2 per cent, reported the American Journal of Transportation.
Satisfactory results were attributed to a 5.8 per cent increase in container volume and 1.9 per cent boost in passenger traffic at the airport as well as increased rents.
Maritime revenue increased 7.2 per cent. Commercial Real Estate revenue grew 4.3 per cent while aviation revenue was up 1.8 per cent. The port said personnel costs of $118.6 million accounted for the biggest portion of operating expenses during the year.