ICTSI shares rise on port developments, earnings

RAZON-LED International Container Terminal Services, Inc. (ICTSI) was the most actively traded stock last week, with its share price rising following reports of strong earnings and developments at its Luzon terminal, which is expected to be operational by 2028.

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Analysts said investor confidence remains upbeat given the company’s resiliency amidst global trade disruptions.

Data from the Philippine Stock Exchange (PSE) showed that ICTSI was the most actively traded stock from Aug. 4-8, with P4.23 billion worth of 8.77 million shares changing hands.

ICTSI shares closed at P488 apiece on Friday, higher by 7.3% from P455 on Aug. 1. The services index likewise grew by 4.6%, while the benchmark PSE index inched up by 0.5%.

Year to date, the listed port operator jumped 26.4%, outperforming the 11.2% growth in its sector and reversing the PSE’s 2.9% decline.

Andrei Jorge G. Soriano, research associate at China Bank Securities Corp., said that beyond the strong earnings results, investors remain optimistic about ICTSI due to its resilience amid global trade developments.

He also noted the company’s expansion prospects, including potential mergers and acquisitions, and an outlook for yields to stay above $200 per twenty-foot equivalent unit (TEU).