International Container Terminal Services reported net income of $44.2 million in the second quarter of 2013, a jump of 26 percent from the same period in 2012.
Quarterly revenue rose 19 percent from $171.2 million in 2012 to $204.4 million in 2013. Total consolidated throughput in the second quarter was 13 percent higher year-over-year at 1.53 million 20-foot-equivalent units, compared with 1.36 million TEUs.
In the first six months of 2013, profit totaled $87.4 million, compared with $71.1 million in the first half of 2012, an increase of 23 percent. From January to June, revenue improved 20 percent year-over-year, reaching $413.7 million.
ICTSI handled consolidated volume of 3.03 million 20-foot-equivalent units in the first half of the year, 12 percent more than the 2.70 million TEUs moved in the same period last year. The increase in volume was mainly driven by the “continuous growth” in international and domestic trade in most of the company’s terminals, as well as the volume generated by the Pakistan International Container Terminal and PT Olah Jasa Andal, ICTSI’s new container terminals in Karachi, Pakistan, and Jakarta, Indonesia, respectively, according to the container terminal operator.
Excluding the volume from the two recent port acquisitions and the effect of the cessation of the operations in Syria, effective January 2013, organic volume growth remained flat. The company’s seven terminal operations in Manila, the Philippines; Brazil; Poland; Madagascar; China; Ecuador; and Pakistan accounted for 79 percent of the group’s consolidated volume from January to June.