ATI net profit hits P2.5 billion in 2017

ASIAN TERMINALS, Inc. (ATI) on Monday reported its net income rose 31% in 2017, driven by record cargo volumes handled at its international ports in Manila and Batangas.

In a statement, the listed port operator said its profit surged to P2.5 billion in 2017, from P1.9 billion in the previous year.

The company said revenues jumped 14.6% to P10.6 billion last year “on account of higher volumes of containerized cargoes and favorable cargo mix in the non-containerized segment.”

ATI said its ports in Manila and Batangas handled a combined container cargo throughput of over 1.3 million TEUs (twenty foot equivalent units) last year, reflecting the country’s continued economic growth.

Manila South Harbor handled over 1.1 million TEUs in international boxed cargoes, up 6% from the previous year. Batangas Container Terminal (BCT), on the other hand, handled nearly 200,000 TEUs, 25% higher than the previous year.

“ATI’s record year in 2017 was also achieved through continuous process improvement, investment in equipment and facilities as well as innovations, while constantly promoting a safe industrial environment for port stakeholders,” the company said in a statement.

ATI operates the Manila South Harbor, the Port of Batangas, the BCT, and off-dock yards in Sta. Mesa, Manila and Calamba, Laguna.

Shares in ATI closed 8.33% or P0.92 higher at P11.96 apiece. —