Asian Terminals posts 10% growth in 2012 profit

MANILA, Philippines – Tanco-led Asian Terminals Inc. (ATI) said its net income in 2012 grew 10.4% from a year ago to P1.68 billion on strong port revenues and cost management efforts.

In a disclosure to the Philippine Stock Exchange on Monday, March 11, the company attributed the growth to port revenues, which rose 10.7% to P4.86 billion. It said its internatonal container and non-container operations at Manila South Harbor and Batangas Port enjoyed higher volumes.

“Building on this momentum, we are continuously investing and further improving the efficiencies and capabilities of our facilities in Manila, Batangas and Laguna in support of the country’s growing economy,” said Andrew Hoad, ATI executive vice president.

ATI, headed by businessman Eusebio Tanco, announced that it allocated P1.8 billion for capital expenditures in 2013. The company’s projects include the development of more container storage areas within the Manila South Harbor expanded port zone, the deployment of new cranes, loaders and prime movers and the acquisition of container handling equipment. 

The company operates the Manila South Harbor, the Port of Batangas, the Batangas Container Terminal, the Inland Clearance Depot in Laguna and the Sta. Mesa Container Yard in Manila. – with a report from Christian Bautista/Rappler.com