Revenue generated by the Philippine Ports Authority (PPA) in 2013 increased 18.79% year-on-year to P11.045 billion, up from P9.298 billion in 2012 but still below the port regulator’s target of P11.512 billion.
The PPA also registered P5.537 billion in net income, a 31.26% surge from P4.219 billion in 2012 and surpassing its target of P5.1 billion for 2013.
PPA clarified that the year-end figures may change as the agency has yet to account the damages to its assets caused by recent calamities that will have an impact on certain expense accounts.
Revenue from port operations rose 19.4% to P10.922 billion from P9.147 billion in the previous year, but fell short of the P11.412-billion target.
PPA’s fund management income dropped 18.27% to P122.69 million from 2012’s P150.12 million, but 22.69% above the target of P100 million.
Total expenses rose 8.43% to P5.508 billion from P5.079 billion while operating expenses went up to P29.09 million on higher operational spending due to infrastructure development, repair and maintenance, and dredging projects, as well as increased cost of administration.
For 2013, PPA completed 25 major infrastructure projects worth P1.094 billion, which includes additional back-up areas for cargo storage, additional berthing facilities, roll-on roll-off ramps, and new passenger terminal buildings in various ports.
The port agency also completed 84 major pre-construction technical and economic studies, which includes 21 feasibility studies, 21 hydro-topo survey, soil investigations and 21 programs of works.
In 2013, the ports of General Santos, Batangas, Cagayan de Oro, and Davao were ISO-certified while PPA also completed the privatization of passenger terminal buildings at four ports. ––Roumina M. Pablo
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