Asian Terminals Inc. on Tuesday said its net income rose 78 percent in the first nine months as container volume proved buoyant.
The port operator said net profit totaled P3.21 billion in the January to September period, up from last year’s P1.81 billion.
Revenue over nine months amounted to P11.42 billion, higher by 16.8 percent from only P9.78 billion last year.
Revenue from containerized international cargo at South Harbor and at Batangas Container Terminal (BCT) increased from last year by 12.7 percent and 56 percent, respectively, on account of higher volume.
Moreover, revenue from ATI Batangas was marginally higher by 0.1 percent last year on account of higher domestic roll on-roll off volumes and higher passenger number.
Government share in nine-month revenue of P1.95 billion increased by 9.2 percent from P1.78 billion last year.
Cost and expenses during the period amounted to P4.88 billion, 10.2 percent higher than only P4.42 billion last year.
To sustain its momentum and in preparation for future trade growth, ATI set aside P5.2 billion as capital investment this year.
This was meant to bankroll the creation of additional berthing spaces and yard facilities, the deployment of new cranes and eco-friendly equipment, the reopening of the Manila cruise terminal and expansion of ports and logistics touch points in key markets.
The budget has also been used to roll out innovation and technology programs in line with ATI’s long-term commitment with the port authority and in support of the economy.
