Citing expanding port operations and diversified services, listed port operator Asian Terminals, Inc. reported a double-digit profit growth for the year 2008.
In a report to Philippine Stock Exchange, Asian Terminals said net income went up to P851.0 million, 17.7% than the year-ago level of P722.8 million. This was a reversal from previous year’s profit decline of 7.6%.
Although there was a dip in non-port operations, the decline was counter-balanced by an increase in port operations in Manila’s South Harbor, amounting to P3.8 billion, complemented by the Batangas Port’s strong showing, Asian Terminals said.
Also, "synergies" between divisions were pursued to maximize resources and "deliver efficient services" to clients.
Asian Terminals Chairman Brian T. Smith said the firm "has adjusted to the crisis and is very positive about 2009 operations."
The company announced a cash dividend of P0.25 per share, or a total of P500 million.
The company manages and operates the South Harbor and offers services such as container terminal handling, arrastre, stevedoring, storage, crabage, domestic cargo handling and passenger terminal operations, international container freight stations, and equipment services.
Asian Terminals shares went down by P0.05 to P3.15 apiece yesterday.
In a report to Philippine Stock Exchange, Asian Terminals said net income went up to P851.0 million, 17.7% than the year-ago level of P722.8 million. This was a reversal from previous year’s profit decline of 7.6%.
Although there was a dip in non-port operations, the decline was counter-balanced by an increase in port operations in Manila’s South Harbor, amounting to P3.8 billion, complemented by the Batangas Port’s strong showing, Asian Terminals said.
Also, "synergies" between divisions were pursued to maximize resources and "deliver efficient services" to clients.
Asian Terminals Chairman Brian T. Smith said the firm "has adjusted to the crisis and is very positive about 2009 operations."
The company announced a cash dividend of P0.25 per share, or a total of P500 million.
The company manages and operates the South Harbor and offers services such as container terminal handling, arrastre, stevedoring, storage, crabage, domestic cargo handling and passenger terminal operations, international container freight stations, and equipment services.
Asian Terminals shares went down by P0.05 to P3.15 apiece yesterday.