ATI earnings grow 24% to P1.77B

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LISTED port operator Asian Terminals Inc. (ATI) reported net income of P1.77 billion for the first nine months of 2017, up 23.9 percent from the P1.43 billion recorded in the same period last year, driven by higher volumes for international containerized cargo operations in South Harbor and Batangas.

ATI said total revenues increased 13.7 percent to P7.72 billion from P6.79 billion in the third quarter of 2016.

“ATI is ready and has the capacity for future volume growth. Investment in infrastructure, equipment and technology is continuous to sustain efficiencies at both Manila and Batangas ports in support of the country’s supply chain,” ATI executive vice president Andrew Hoad said in a statement over the weekend.

ATI said it handled over 820,000 twenty foot equivalent units (TEUs) of foreign boxes from January to September at its Manila South Harbor, while cargo handled by Batangas Container Terminal came in at below 150,000 TEUs by end-September.

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