Unaudited full year net income for 2007 has increased by 52% to Ph Peso2.8bn ($69.5m). Full year revenue from port operations reached Ph Peso15bn ($372.2m), a 27% growth year-on-year. ICTSI described international operations as a “significant contributor” to earnings.
“Two thousand seven was a highly successful year for ICTSI across a number of fronts and the strong financial results provide further evidence of the success of our strategy.” said Enrique K Razon Jr, ICTSI chairman and president. “We are focused on improving the profitability levels of our new terminals to drive future earnings growth.”