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. — Patrizia Paola C. Marcelo
