Listed port operator Asian Terminals Inc. (ATI) booked an 80.3% surge in net income for the first six months of 2014 to P933 million from P517.6 million in the same period last year.
In a disclosure to the Philippine Stock Exchange, ATI said net income would have been P847.7 million for the first half, 12.7% higher than the P752.2 million in the first six months of 2013 if the unrealized foreign exchange gains and losses attributable to port concession rights payable were excluded.
ATI attributed the positive performance to growth of volumes at the Manila South Harbor and Batangas Port.
Revenue for the first half of the year reached P3.923 billion, 26.6% higher than the P3.1 billion recorded in the same period in 2013.
The port operator said revenue from its South Harbor international container operations grew on higher volumes, but income from its international non-container operations dropped as volumes dipped.
Revenue from the Port of Batangas Phase 1 and the Batangas Container Terminal (BCT) was bolstered by higher container volume, an increase in roll-on/roll-off units in Phase 1, and stronger operations at BCT.
ATI earlier said BCT sustained its growth momentum into the second quarter when container throughput accelerated by as much as 254% from a 194% volume upsurge during the first quarter.
First-half volumes already surpassed the 2013 full-year mark. ATI earlier said 2013 traffic reached 11,019.5 twenty-foot-equivalent units (TEUs).
Ship calls at the Batangas Port recently increased, with MCC Transport already calling thrice a week on Tuesdays, Saturdays, and Sundays.
Another direct caller, NYK, started making Tuesday calls in July.
SITC started on July 28 and calls on Mondays, APL on July 30 with Wednesday calls, RCL/PIL on August 1 with Friday calls, and CMA CGM on August 3 with calls on Sundays.
Domestic shipping liner 2Go also began calling in Batangas in June.
