International Container Terminal Services, Inc. (ICTSI) reported net income up 83% to $42.4 million for the first six months of 2010, which was attributed to increased revenues, managing expenses and lower effective tax rate for the period.
First half (H1) revenue was up 31% to $246.9 million against $188.8 million for the same period last year.
For the second quarter (Q2), port operations revenue was up 32% to $126.3 million and earnings before interest, tax, depreciation and amortization (EBITDA) was up 50% to $62.1 million.
ICTSI handled a consolidated volume of two million twenty-foot equivalent units (TEUs) in H1, 2010, 26% higher than the same period in 2009.
Q2's container volume was one million TEUs, up 25% from the same period in 2009.
The increased container volume was due to the continued upturn in international trade.
Asia's container terminal operations' throughput, 1.2 million TEUs, accounted for 64% of the consolidated volumes for H1, while throughput for Q2, 2010 grew 27% to 678,526 TEUs.
ICTSI's Americas container terminal operations volume grew 23% to 484,724 TEUs in H1. Included within the figure is Brazil's Tecon Suape, S.A., which achieved an impressive 48% growth in volume.
While the America's contribution to ICTSI's container volume was 24% in H1, down 1% from the previous period in 2009, ICTSI's America's operations managed to grow 23% in Q2 to 248,136 TEUs, bolstered by the extraordinary growth in ICTSI's Brazil container terminal operations.
ICTSI's EMEA operations brought in 12% of the revenue for H1, rising 7% to $29.2 million.
The increase in EMEA was attributed to ICTSI's terminal in Poland, which posted revenue improvements of 8%.
Established in 1987 in the Philippines, ICTSI is a leading operator, innovator and pioneer in the field of acquiring, developing, managing and operating container ports and terminals worldwide.
First half (H1) revenue was up 31% to $246.9 million against $188.8 million for the same period last year.
For the second quarter (Q2), port operations revenue was up 32% to $126.3 million and earnings before interest, tax, depreciation and amortization (EBITDA) was up 50% to $62.1 million.
ICTSI handled a consolidated volume of two million twenty-foot equivalent units (TEUs) in H1, 2010, 26% higher than the same period in 2009.
Q2's container volume was one million TEUs, up 25% from the same period in 2009.
The increased container volume was due to the continued upturn in international trade.
Asia's container terminal operations' throughput, 1.2 million TEUs, accounted for 64% of the consolidated volumes for H1, while throughput for Q2, 2010 grew 27% to 678,526 TEUs.
ICTSI's Americas container terminal operations volume grew 23% to 484,724 TEUs in H1. Included within the figure is Brazil's Tecon Suape, S.A., which achieved an impressive 48% growth in volume.
While the America's contribution to ICTSI's container volume was 24% in H1, down 1% from the previous period in 2009, ICTSI's America's operations managed to grow 23% in Q2 to 248,136 TEUs, bolstered by the extraordinary growth in ICTSI's Brazil container terminal operations.
ICTSI's EMEA operations brought in 12% of the revenue for H1, rising 7% to $29.2 million.
The increase in EMEA was attributed to ICTSI's terminal in Poland, which posted revenue improvements of 8%.
Established in 1987 in the Philippines, ICTSI is a leading operator, innovator and pioneer in the field of acquiring, developing, managing and operating container ports and terminals worldwide.