Publicly-listed Philippine port operator Asian Terminals Inc (ATI) reported a net income of P1.22 billion for the first nine months of 2012, up 5.7% from P1.15 billion year-on-year.
The increase was driven mainly by growth in international trade, prudent cost management and higher port volumes and revenues, the company said in a statement.
Higher volumes handled by international container and international non-container operations in South Harbor and Batangas Port contributed to the 7.5% increase in consolidated revenues which reached P3.54 billion by the end of the third quarter, the company said in a disclosure with the Philippine Stock Exchange.
ATI expects to cap the year on a strong note and further sustain its momentum into 2013, especially as its P1.4-billion capital expenditure program for 2012 fully delivers. This includes a crane rail extension project at Pier 3 which would increase South Harbor’s berth capacity by year-end.
Early in October, ATI also developed additional container stacking and truck marshaling areas in South Harbor in response to the continuous volume growth at the Port of Manila.
The deployment of additional cranes and other container-handling equipment for ATI’s flagship facility are also in the pipeline. These developments form part of ATI’s investment commitments with the Philippine Ports Authority.
Photo courtesy of Asian Terminals, Inc
