The growth of international containerized cargoes, reflecting the expansion of the Philippine economy, delivered solid third quarter results for listed Asian Terminals Inc. (ATI).
In a disclosure to the local bourse on Friday, ATI reported a net income of Php1.77 billion for the first nine months of the year, on the back of robust container volume handled by its international gateway ports in Manila and Batangas.
This figure represents an increase of 23.9% from Php1.43 billion in third quarter of 2016.
ATI’s total revenues for the period totaled Php7.72 billion, up 13.7% from Php6.80 billion in the same period of last year.
From January to September, Manila South Harbor handled over 820,000 teus (twenty foot equivalent units) of foreign boxes, setting it on track of a back-to-back 1,000,000-teu annual throughput performance, after achieving a record year in2016.
Batangas Container Terminal (BCT) continued to step up its role as South Luzon’s international trade facilitator, offering competitive market connectivity to major shippers in the region and effectively decongesting Manila’s roads.
BCT 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 Batangas ports in support of the country’s supply chain,” ATI executive vice president Andrew Hoad said