International Container Terminal Services, Inc. (ICTSI) on Tuesday said its net income attributable to equity holders jumped by 29 percent or $184.9 million by nine months after its local and international terminals posted higher operating income contribution.
The said figure is against the company’s year-on-year report of $142.9 million.
ICTSI Chairman and President Enrique K. Razon Jr. credits their continued strong financial performance on the organic volume growth, diligent cost management and continued ramp-up of newer terminals.
“Positive progress has been made across the business which in part has been enabled by the prudent investments we make in our brownfield terminals,” Razon said in a statement.
“While we remain conscious of the current geopolitical trade tensions, we are well-positioned to deliver value for all our stakeholders,” he added.
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ICSTI also reported that its unaudited consolidated financial results for the January to September period stood at $1.1 billion, up 10 percent from the US$1.0 billion reported for the same period last year.
ICTSI is a global developer, manager and operator of container terminals that operates in six continents in the world.
