ATS sees bright prospects for 2010

June 6, 2010 11:47 am 

MANILA, June 6 – Ranking officials of Aboitiz Transport System (ATS), the country's largest shipping company, have expressed confidence that 2010 will be a good year for the company as the world economy continues to recover from the ill-effects of the global financial crisis.

ATS chairman Jon Ramon Aboitiz said the company's shipping business, most especially its cargo side, has posted impressive growth in the first months of the year.

“Cargo has grown about 10 percent in the first quarter and we expect such growth to continue for the whole year," Aboitiz stressed.

He also said that he is hopeful that the growth will also spread to the company's shipbuilding and ship management ventures, including that with MCC Transport, a joint venture with Maersk Line.

ATS is looking at increasing market share of MCC Transport in domestic shipping to more than 10 percent this year.

“There is continuing resilience in the Philippine economy based on the figures released by government on the country’s GDP growth and our optimism is based on that,” Aboitiz pointed out.

The national government earlier said the country's gross domestic production (GDP) hit the seven percent in the first quarter of the year vis-à-vis the same period last year.

“However, despite the pretty good performance of almost all our business ventures, we will continue to monitor the current situation and be prudent in our other moves considering the volatility of fuel prices,” the ATS chairman further said.

Earlier, ATS reported a 10-percent increase in consolidated revenues for the first three months of the year to P3.1 billion or P286 million higher than the P2.9 billion posted in the same period last year, thanks to strong international ship chartering and supply chain management solutions businesses. (PNA)

LDV/PFN

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