PPA's net income up 9% to P5.024 billion in 1H

The Philippine Ports Authority (PPA) said net income increased to P5.024 billion in the first half of the year, a 9 percent growth from P4.611 billion registered in the same period last year, showing a strong rebound from the effects of the pandemic.

PPA's net income was 24 percent ahead of the P4.056 billion target, and it was 13 percent lower compared to the pre-pandemic figure. PPA's net income declined by as much as 50 percent during the onslaught of COVID-19 in 2020.