ATI profit up in 2016

MANILA, Philippines -  Asian Terminals Inc. (ATI) saw net earnings rise eight percent in 2016, boosted by the record volume of cargo handled by its international ports in Manila and Batangas.

In a statement, ATI said profit reached P1.91 billion last year, up from P1.77 billion in 2015. 

Excluding the foreign exchange impact, ATI’s net profit would have been P2.1 billion last year or 12.9 percent higher than the year earlier.

The growth in income was driven by higher revenues from the company’s  ports.

Revenues climbed 13.5 percent to P9.25 billion amid robust international container cargoes at the Manila South Harbor and the Batangas Container Terminal (BCT), as well roll-on/roll-off cargoes at the Batangas Port.

ATI said revenues generated from the international containerized cargoes handled by the Manila South Harbor went up 18.2 percent year-on-year.

Manila South Harbor handled 19 percent more international containers last year, on its way to breaching the one million twenty-foot equivalent unit (TEU) mark for the first time in three decades. 

Revenues of the Batangas Port, meanwhile, expanded 16.1 percent as it handled over 200,000 completely-built units or vehicles last year, its highest car throughput in a single year, representing over 42 percent growth.

Foreign container throughput handled by BCT reached nearly 160,000 TEUs or an increase of 18 percent.