ATI net income grows nearly 15% as trade volume starts to recover

ati net income grows nearly 15 as trade volume starts to recover - ATI net income grows nearly 15% as trade volume starts to recover

ASIAN TERMINALS, Inc. (ATI) on Monday reported a 14.8% increase in its attributable net income for the third quarter to P812.10 million as trade picked up with the easing of lockdown measures.

“With the lifting of government restrictions and the calibrated opening up of the economy, we have seen an encouraging uptick in Philippine trade as reflected in the volumes we handled during the third quarter,” ATI Executive Vice President William Khoury said in a statement.

“Despite the global pandemic, we are optimistic of finishing the year on a respectable note driven by our Company’s resilience as we continue fulfilling our important mandate of enabling trade in the Philippines,” he added.

ATI’s revenues for the third quarter totaled P2.92 billion, 6.7% lower than the P3.13 billion it generated in the same period last year, the company said in a disclosure to the stock exchange.

The company saw its total expenses decline 99.9% to P1.74 billion.

For the nine months to September, total revenues reached P7.97 billion, 21.6% lower than last year’s figure.

ATI’s net income attributable to the parent equity holder declined 31.2% to P1.96 billion during the three quarters.

Shares in ATI on Monday closed 3.63% higher at P15.98 apiece. — Arjay L. Balinbin

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