August 12, 2013

ICTSI profit surges 23% in January-June

International Container Terminal Services Inc. (ICTSI) of port and gaming magnate Enrique Razon recorded a 23-percent increase in earnings to $87.4 M in the first half of the year. ICTSI said revenue from port operations jumped 20% to $413.7 M from $345 M.

Excluding the revenues from the newly acquired terminals and the effect of the cessation of the operations in Syria last January, ICTSI said organic revenue growth was at 8%. The port operator reported a 12-percent increase in consolidated volume of handled cargoes to 3.027 M twenty-foot equivalent units (TEUs). - WealthSec