ATI reports net income of P519M for H1 of 2009

MANILA, Sept. 6 -– Port operator Asian Terminals, Inc. (ATI) reported that its net income for the first semester of 2009 amounted to P519.9 million or 38 percent higher than the P382 million netted in the similar period last year.

The terminal operator also revealed that its revenues for the period totaled P2.174 billion or 2.9 percent higher than 2008’s P2.111 billion.

However, ATI disclosed that its earnings for port operations decreased 1.1 percent to P1.887 billion compared to the P1.908 billion in 2008.

Revenues from South Harbor international container operations were lower by 1.3 percent and from South Harbor international non-container, down 36.5 percent mainly due to the volume factor.

Favorable foreign exchange rates and higher tariff implemented at the start of the year, however, mitigated the impact of lower international container volumes at the South Harbor

Revenues from South Harbor domestic operations grew 2.3 percent in the first half due to the favorable volume mix and revenue rates.

ATI also reported that cost and expenses dropped 3.9 percent to P1.348 billion from P1.403 billion because of the 6.6 percent decrease in labor cost, 19.3 percent decrease in equipment running cost, 3.5 percent reduction in rental fees, and 15 percent cut in general transport. (PNA)

DCT/PFN

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