Asian Terminals Inc. (ATI) saw its profits sink by 46.3 percent to P1.15 billion in the first half, from P2.14 billion the year prior, as its operations were affected by the economic contraction brought about by the Covid-19 pandemic.
Its revenues dipped by 28.2 percent to P5.05 billion, from P7.04 billion, as it posted lower container volumes during the first six months of the year. Manila South Harbor and Batangas Container Terminal both posted a 29-percent drop in volumes, handling only 460,000 twenty-foot equivalent units (TEUs) and 113,000 TEUs respectively.
ATI Executive Vice President William Khoury noted that his group is “seeing signs of trade recovery past the second quarter.”
He said his group’s optimism comes from the 22-percent volume increase in consolidated volume, which reached the 100,000 TEU-mark in June. The following month, the company hit 117,000 TEUs, representing a 16-percent growth from the preceding month.
“Our company’s prudent cost management, the careful execution of day-to-day operations which is anchored on safety and efficiency, and our continuing investment on important port infrastructure projects will enable us to remain resilient amid these challenging times,” Khoury said.
He added: “Through these initiatives, we will sustain the steady flow of trade and ensure the safe passage of people and cargoes through our gateway ports, serving as our contribution to stimulating the Philippine economy.”