ICTSI net income up 73% in H1

- Lorenz S. Marasigan

PORT operator internatio­nal container Terminal services, inc. (ictsi) saw its net income attributab­le to equity holders surging by more than 70 percent in the first half, thanks to higher operating income.

in a regulatory filing, the company said its bottomline reached $197.7 million during the first semester, a 73-percent increase from the $113.4 million it booked last year.

“These results have surpassed 2019 pre-pandemic performanc­e and were driven by favorable market conditions and the prudent actions we took at the onset of the pandemic. This is evidenced by the strong organic growth across our terminals underpinne­d by the strength and resilience of ictsi and our differenti­ated strategy,” ictsi chairman enrique K. razon said.

revenues from port operations grew by 22 percent to $882.6 million from $724.3 million due to volume growth, favorable container mix, and new contracts with shipping lines.

Newspapers in English

Newspapers from Philippines