ATI profit balloons past P4 B in 9 months

Port operator Asian Terminals Inc. (ATI) is poised to end the year with higher profit, as revenue is growing by double digits on strong demand for cargo and passenger services by sea.

- By ELIJAH FELICE ROSALES

Based on its financial report, ATI grew its profit by 34 percent to P4.26 billion in the nine months to September from P3.17 billion a year ago, as revenue went up quicker than spending.

Broken down, revenue jumped by 24 percent to P14.7 billion, while expenses rose by 15 percent to P5.95 billion.

ATI drew double-digit hikes in revenue contribution from the Manila South Harbor and Batangas Container Terminal (BCT). The Manila South Harbor saw its revenues rise by 27 percent, while BCT’s shot up by 16 percent.