International Container Terminal Services Inc. said Thursday net income rose 73 percent in the first half from a year ago on improvement in global trade, exceeding the 2019 pre-pandemic performance.
The port operator led by businessman Enrique Razon Jr. said net income amounted to $196.7 million from January to June, up from $113.4 million in the same period last year.
“These results have surpassed 2019 pre-pandemic performance and were driven by favorable market conditions and the prudent actions we took at the onset of the pandemic,” said Razon, chairman and president of ICTSI said.
“This is evidenced by the strong organic growth across our terminals underpinned by the strength and resilience of ICTSI and our differentiated strategy,” he said.
ICTSI revenues from port operations amounted to $882.6 million, up 22 percent from $724.3 million last year.
