The Razon-led International Container Terminal Services Inc. (ICTSI) said its earnings in January to September jumped 25 percent to $204.9 million against the previous year’s $163.8 million on the back of robust port operations. Its topline from port operations grew by 10 percent to $1.1 billion against the $1 billion recorded in the same period in 2018. The solid financial performance, ICTSI told the local bourse, was buoyed by its operations in Democratic Republic of Congo, Iraq and Mexico, and Manila and Subic in the Philippines. “ICTSI has continued to deliver strong financial performance driven by organic volume growth, diligent cost management and the continued ramp up of newer terminals. ICTSI’s earnings before interest, taxes, depreciation and amortization stood at $624.3 million, up 14 percent than the $546 million posted in the first three quarters last year.

Source: Manila Times November 12, 2019 18:13 UTC