The Philippine Ports Authority (PPA) posted a 49-percent year-on-year increase in net income for January to March, saying it surpassed almost all targets for the period after reducing bureaucratic red tape and increasing efficiency at the ports.
Latest data showed that net income by the state-owned agency for the period reached P1.629 billion, compared with the P1.096 billion registered a year earlier. The figure eclipsed the P960 million target set for the first quarter by 70 percent.
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