PPA reports net income of P1.788B for 2009

June 6, 2010 11:47 am 

MANILA, June 6 – The Philippine Ports Authority (PPA) reported that it has posted a net income of P1.788 billion for 2009, or 264.17 percent higher than the P1.089 billion netted in 2008.

It also disclosed that gross revenue for the full year 2009 reached P7.129 billion, up 7.6 percent or about P500 million from the previous year.

The port regulator also reported that its port revenues hit the P6.969 billion or P458.56 million higher than the P6.510 billion recorded in 2008.

The PPA also said its fund management income soared by 38.96 percent from P115 million in 2008 to P159 million in 2009.

It said the International Container Terminal Services, Inc. contributed 36 percent or P2.526 billion to its total revenues.

Other revenue sources with significant contribution were wharfage fees amounting to P1.394 billion (20 percent); arrastre/stevedoring, P1.230 billion (17 percent); vessel charges, P1.030 billion (14 percent); other sources, P562 million (eight percent); and pilotage/storage fees, P223.84 million (three percent).

Total expenses last year reached P5.029 billion, 34.32 percent less than the P7.657 billion registered in 2008.

Operating expenses for 2009 totaled P4.823 billion, an increase of P813 million than those in 2008. (PNA)

LDV/PFN

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