ICTSI posts 29% growth in nine months

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.

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.