LISTED port operator International Container Terminal Services Inc. (ICTSI) reported a 23-percent increase in first-quarter net income to $51.7 million from $42.2 million a year earlier on the back of volume growth and new contracts.
Gross revenues from port operations increased 12 percent to $297.2 million, mainly due to volume growth, traffic rate adjustments at certain terminals, new contracts with shipping lines and services, and contribution from the company’s new terminal in Matadi, Congo.
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