International Container Terminal Services Inc. said Monday net income rose 7 percent in the first half from a year earlier on higher operating income.
The port operator said net income amounted to $313.80 million in the six-month period, up from $294.48 million a year ago. Second-quarter profit rose 5 percent to $159.19 million from $152.20 million.
“ICTSI’s diversified portfolio, operational discipline and the determined focus from our fantastic team around the world has enabled us to deliver another strong financial performance,” said ICTSI chairman and president Enrique Razon Jr.
“We have a robust balance sheet and a highly cash generative business which looking ahead, will enable us to continue our strong track record of investing in our terminals to support future growth for the benefit of all our stakeholders,” he said.