In a disclosure to the Philippine Stock Exchange, the firm said revenue from port operations improved 14 percent to US$751.8 million from the US$661.8 million reported for the first six months of 2018.
The increase was partially tapered by a non-recurring gain from the interest rate swap related to the pre-payment of the project finance loan at its terminal operations in Manzanillo, Mexico in 2018. “ICTSI’s performance in the first half of 2019 has been very positive. The group’s focus on generating high quality earnings from our ports, ramping up activities at our newer terminals and strong cost control has enabled us to continue to deliver on our strategic objectives,” said ICTSI Chairman Enrique K. Razon, Jr.
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