Home » Breaking News, Maritime, Ports/Terminals » ATI 2011 income down 4.5%

Philippine-based publicly listed company Asian Terminals Inc (ATI) reported a net income of P1.52 billion, down 4.5% fromP1.59 billion in 2010.

Gross revenues also dipped 3% from P4.52 billion to P4.39 billion.

In a press statement, the port operator said it expects to pick up growth in 2012.

In preparation for future growth, ATI said it is constantly expanding its port facilities and further improving efficiency of operations through the acquisition of state-of-the-art equipment and technologies.

Last year, ATI added two post-panamax ship-to-shore cranes with twin-lift capability alongside other modern container handling equipment. ATI is also expanding the quay length of Pier 3, its container yard, and is adding two more rubber-tired gantries to increase the annual throughput capacity of Manila South Harbor near the one-million-TEU mark.

ATI declared a cash dividend of P0.25 per share for a total of P500 million in December, the second for the year, bringing ATI’s total releases to a record-high P1.10 billion in 2011.

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