The state-run Philippine Ports Authority (PPA) raked in P6.72 billion in net income after tax, marking a 78 percent increase in the first half this year, propelled by surging cargo traffic.
The PPA on Thursday stated that it generated P14.7 billion in total revenues, exceeding its mid-year target of P13.77 billion. This is a 13.7 percent increase over the same period in 2024.
Meanwhile, the effective cost management brought expenses to P6.98 billion or 11 percent below the budgeted amount and 17 percent lower year-on-year.
PPA posted a consistent growth from P14.32 billion total revenues in 2016 to P27.64 billion in 2024, with regulatory income increasing from P6.82 billion in 2016 to P15.68 billion in 2024.
Cargo traffic volume surged by 7.5 percent to 149 million metric tons.
Container traffic saw a modest growth, reaching 4.16 million twenty-foot equivalent units (TEUs), from 3.75 million TEUs.
PPA said that sea passengers grew 10 percent to 46 million compared to 42 million last year
Meanwhile, PPA’s cruise sector showed passenger volume soaring to 143,149, or 91 percent over last year’s 74,849.
Roll-on/roll-off (RoRo) traffic grew by 9.4 percent, totaling 6.39 million vehicles from 5.85 million in the previous year.
