Manila—(PHStocks)—Publicly-listed port operator Asian Terminals Inc. (PSE: ATI) capped year 2012 on a strong note posting a net income of PhP1.68 billion, 10.4 percent higher than 2011. The company said that its port revenues grew 10.7% to PhP4.86 billion, from PhP4.39 billion the previous year, driven by higher volumes from its international container and non-container operations in Manila South Harbor and the Batangas Port.
“The fundamental robustness of ATI’s integrated port business, alongside its prudent cost management efforts, enabled the company to deliver strong results in 2012,” ATI Executive Vice President Andrew Hoad said. “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.”
ATI is earmarking PhP1.8 billion in capital investments for 2013 from internally generated funds to support various projects. This includes the development of additional container storage areas within the Manila South Harbor expanded port zone, the deployment of new cranes, loaders and prime movers, and acquisition of other container handling equipment.
ATI is also eyeing additional back-up container storage areas outside South Harbor to allow greater flexibility and convenience for customers. ATI operates the Manila South Harbor, the Port of Batangas, Batangas Container Terminal, Inland Clearance Depot Laguna and the Sta. Mesa Container Yard in Manila. It is also a strategic partner at the South Cotabato Integrated Port in General Santos City.