THANKS to the growth of international containerized cargoes that flowed in and out of the ports of Manila and Batangas, profits of Asian Terminals Inc. (ATI) rose by almost a quarter during the first nine months of 2017.
In absolute terms, the increase amounted to a net income of P1.77 billion, or 23.9 percent higher from P1.43 billion in the same period in 2016.
In the same comparative periods, the company’s revenues stood at P7.72 billion, a 13.7-percent increase from P6.8 billion, while expenses inched up by a slower 4.4 percent to P3.32 billion.
From January to September, Manila South Harbor handled over 820,000 twenty-foot equivalent units (TEUs) of foreign boxes, setting it on track of a back-to-back 1,000,000-TEU annual throughput performance, after achieving a record year in 2016.
Batangas Contai er Terminal (BCT), on the ot er hand, handled just short of 150,000 TEUs by end-September, bringing it close to its 2016 full year container throughput of nearly 160,000 TEUs with still a quarter to go.
“ATI is ready and has the capacity for future volume growth. Investment in infrastructure,equipment and technology is continuous to sustain efficiencies at both Manila and Bata gas ports in support of the country’s supply chain,” ATI Executive Vice President Andrew Hoad said.