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ATI's 2016 profit up 8pc to US$38 million as volumes hit records

ASIAN Terminals (ATI) in the Philippines saw its 2016 net profit increase by eight per cent year on year to PHP1.91 billion (US$38 million) partly driven by a 19 per cent jump in throughput at Manila South Harbour (MSH), which broke through the one million TEU mark for the first time in three decades.

ATI said that after accounting for the impact of foreign exchange on the returns, its net profit would have reached PHP2.1 billion, up 13 per cent year on year.

Revenues grew by 13.5 per cent to PHP9.25 billion due to robust international container cargoes at MSH and Batangas Container Terminal (BCT), as well roll-on/roll-off cargo at the Batangas port, reported Seatrade Maritime News, Colchester, UK.

International containerised cargo revenue from MSH surged by 18.2 per cent, while turnover at Batangas port, which handles mainly auto exports, was up 16 per cent.

ATI said Batangas port handled a record 200,000 completely built units last year, representing an increase of 42 per cent against 2015. International container throughput handled by BCT was up 18 per cent to 160,000 TEU.