MANILA - Ports operator International Container Terminal Services Inc (ICTSI) said its net income attributable to equity holders reached $142.3 million in the first quarter.
The ports operator said this was 58 percent higher than the $90.1 million earned in the same period last year, as revenues from port operations hit $528.3 million, 21 percent higher compared to the same period last year.
The figures were from the company's unaudited consolidated financial results for the quarter.
ICTSI chairman and president Enrique Razo said the year started very well for the company with improvements in trade activities, coupled with new contracts with shipping lines.
"These results demonstrate the strength of our business and its ability to deliver growth through our diversified portfolio and longstanding, positive relationships with local communities all over the world,” Razon said.
The ports billionaire however said the company also recognizes the challenges to world trade posed by the Ukraine conflict.
“We are cognizant of challenges ahead as the tragic conflict in Ukraine impacts the
global economy and continue to monitor the situation carefully.”
ICTSI said it operates in six continents and continues to pursue container terminal opportunities around the world.