State-run Philippine Ports Authority said net income rose 16 percent in the first 11 months of 2017 on higher port revenues.
The port authority said net income amounted to P8.31 billion in the January-to November period last year from P7.16 billion year-on-year.
“The performance of the PPA is way above expectation as we were able to eclipse almost all forecasted levels of the financial facet of the agency,” PPA general manager Jay Daniel Santiago said.
“We expect an even bigger margin when our December figures start to come in. Not only for December but for the entire 2017 considering that we overshoot our targets by at least 10 percent every month until the end of November,” Santiago said.
Total revenues during the 11-month period, meanwhile, grew 6.7 percent to P13.846 billion from P12.976 billion collected a year ago.