Listed firm Asian Terminals Inc. (ATI) reported a 20 percent increase in profit nine months into the yearto P1.8 billion, from P1.5 billion in the same period last year, attributing this to the growth in containerized cargo in its Manila and Batangas ports. a
In a filing at the stock exchange, ATI said revenues for the nine-month period jumped by 19 percent to P9.78 billion from P8.2 billion a year ago.
It said revenues from South Harbor international containerized cargo and Batangas Container Terminal increased from last year by 16.8 percent and 5.7 percent, respectively.
Revenues from ATI Batangas were also higher than last year by 68 percent on account of higher roll-on roll-off volumes and higher number of passengers, ATI added.
Government share in revenues for the nine months of 2022 of P1.8 billion increased by 24.3 percent from P1.4 billion last year, as a result of higher revenues subject to port authorities share.
ATI posted income before income tax of P2.4 billion in the third quarter, up by 15.7 percent from P2.01 billion in the same period last year.
For 2022, ATI said,it has allocated an estimated of P5.43 billion to support the acquisition of more modern cargo handling equipment and the development of ports and logistics infrastructure across its sites.
The company added it plans to continuously enhance its gateway ports in Manila and Batangas this year for containerized cargo, non-containerized cargo and passenger handling operations, upgrading their capacity and technologies to support customer growth.
