ATI books higher 9mo profits amid growth in port revenues
MANILA, Philippines - Earnings of port operator Asian Terminals, Inc. (ATI) grew 6% in the nine months to September amid an increase in the volume of cargo handled in ports and higher tariffs in place.
The listed firm booked a net income of P1.217 billion in January to September, up from the P1.152 billion reported in the same period last year, according to a disclosure.
Revenues of ATI surged 8% to P3.540 billion from P3.292 billion, while expenses climbed 7% to P1.908 billion from P1.784 billion.
In the third quarter alone, the port operator saw its net income jump 19% to P438.365 million from P369.326 million last year, also on the back of higher revenues during the period.
Revenues increased 16% to P1.252 billion from P1.079 billion, while cost and expenses grew 14% to P664.915 million from P581.383 million.