INTERNATIONAL Container Terminal Services Inc. (ICTSI) net income rose 31 percent to $632.58 million, with a 14 percent revenue boost to $2.01 billion, fueled by higher throughput and global expansion.
INTERNATIONAL Container Terminal Services Inc. net income rose 31 percent to $632.58 million, with a 14 percent revenue boost to $2.01 billion, fueled by higher throughput and global expansion.'I am pleased to report another excellent set of results,' said Enrique Razon Jr., ICTSI chairman and president. 'Our strategy is centered on our international portfolio, and its diversity has enabled us to capitalize on growth opportunities globally.
The 2 percent consolidated volume growth was mainly due to the impact of new services and improvements in trade activities at certain terminals, as well as the contribution of Visayas Container Terminal in Iloilo, offset by a decrease in volume at Contecon Guayaquil S.A. in Guayaquil, Ecuador, the expiration of the concession contract at PICT in Karachi, Pakistan, and the deconsolidation of OJA in Jakarta, Indonesia.
Net Income Up By 31% In Months
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