ICTSI second-quarter net profit up 6.5%

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

31 Jul 2008

International Container Terminal Services (ICTSI) has reported revenue from port operations of pesos5.04bn (US$120m), an increase of 53% over the same period last year. Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) were pesos2.19 bn, up 52% and net income attributable to equity holders was pesos784m up 6%. Enrique Razon, ICTSI chairman and president, commented: “In spite of the general unease about the potential impact of the slowing global economy on trade and containerized cargo volumes, ICTSI continues to see strong business and financial results across our portfolio. In addition to improving performance at our existing terminals, we continue to achieve improvements at the terminals we acquired last year, and are actively looking for additional acquisition opportunities.”

Source: Mglobal