Higher volume of shipments at its Manila and Batangas operations lifted port operator Asian Terminals Inc.’s (ATI) net income by 1% in the first half of the year to P1.015 billion from P1.005 billion in the same period a year ago.
For the second quarter alone, net income grew 78% to P632.963 million from P355.685 million year-on-year.
Revenue for the first half went up 2.6% to 4.397 billion from P4.286 billion in the same period last year.
For the second quarter, revenue rose 26% to P2.432 billion from P1.927 billion in the similar quarter of last year.
In a disclosure to the Philippine Stock Exchange, ATI said the larger profit stemmed from higher container volumes in its Manila South Harbor operations and increased volume of international vehicles (completely built units) handled at the Batangas port.
In 2015, ATI’s net income declined 7% to P1.767 billion from P1.901 billion in 2014 as a soft market environment caused revenue to fall at Manila South Harbor.
ATI said that moving forward, it will “continuously optimize its ports in Manila and Batangas for containerized cargo, non-containerized cargo and passenger handling, keeping these vital gateway port facilities competitive (in catering) to customer needs and responsive to market demands.”
The company’s programmed capital investment for 2016 is P3.8 billion, in line with its investment commitment to the Philippine Ports Authority.
“The robust Batangas Port takes center stage this year as ATI positions it for future growth ahead for both the domestic passenger and roll-on/roll-off segments as well as the international container cargo business,” ATI noted.
It added that it keeps its eyes open for more business growth drivers, including exploring new port operations locally and overseas.
ATI operates Manila South Harbor, Port of Batangas (Phase 1), Batangas Container Terminal, Batangas Supply Base, and Inland Clearance Depot, as well as Makar Wharf in General Santos through South Cotabato Integrated Port Services Inc.
