Manila's Container Terminal Services Inc (ICTSI) has posted an 18 percent increase in net profit to US$182.5 million for the first nine months of 2011 year on year, drawn on revenues of US$490 million, an increase of 29 per cent over the same period, Shippingazette reported.
Consolidated volumes increased 25 per cent year on year to 3.84 million TEU, reflecting an upturn in world trade, said the company.
"Volume from the group's six key terminal operations in Manila, Brazil, Poland, Ecuador, Madagascar and China, which accounted for 74 per cent of consolidated volume for the first nine months of 2011, increased 19 per cent to 2.85 million TEU," said the company statement.
Total volume grew 19 per cent year on year excluding the throughput from new terminals in Portland, Oregon, and Rijeka, Croatia.
Looking ahead, ICTSI said it had appropriated $356 million for 2011 for new projects in Argentina, Mexico and Colombia, and for the procurement of equipment at terminals in Manila, Brazil and Ecuador.
Consolidated volumes increased 25 per cent year on year to 3.84 million TEU, reflecting an upturn in world trade, said the company.
"Volume from the group's six key terminal operations in Manila, Brazil, Poland, Ecuador, Madagascar and China, which accounted for 74 per cent of consolidated volume for the first nine months of 2011, increased 19 per cent to 2.85 million TEU," said the company statement.
Total volume grew 19 per cent year on year excluding the throughput from new terminals in Portland, Oregon, and Rijeka, Croatia.
Looking ahead, ICTSI said it had appropriated $356 million for 2011 for new projects in Argentina, Mexico and Colombia, and for the procurement of equipment at terminals in Manila, Brazil and Ecuador.