Specializing in International Freight Forwarding, by way of ocean, air, rail and truck freight-RISINGSUN

ICTSI 9-month net profit up slightly on increased throughput

Time：2015-11-05 Browse：74 Author：RISINGSUN

MANILA-HEADQUARTERED global container terminal operator International Container Terminal Service Inc. (ICTSI) has posted a net profit of US$136 million in the first nine months of the year, up 0.3 per cent over the $135.7 million earned in the same period last year.

Gross revenue from port operations in the nine-month period amounted to $792 million, an increase of 2 per cent over the $779.2 million.

ICTSI handled consolidated volume of 5.8 million TEU in the first nine months of 2015, 7 per cent more than the 5.4 million TEU handled in the same period in 2014, the company said in a statement.

"The company`s eight key terminal operations in Manila, Brazil, Poland, Madagascar, China, Ecuador, Pakistan and Honduras, which accounted for 77 per cent of the group`s consolidated volume in the first nine months of 2015, grew 5 per cent compared to the same period last year."

The company also announced that throughput in the quarter ending September 30 was 2 per cent higher at 1.9 million TEU compared to 1.8 million TEU in 2014.

During the third quarter, revenue from the port operations decreased 11 per cent from $268.9 million to $239.9 million but net profit during the period rose 5 per cent from $34.1 million to $45.8 million.