
Business
ICTSI Profit Soars 22% to $590M in H1 Amid Geopolitical Headwinds
Philippine port giant ICTSI reported a 22% year-on-year increase in net profit to $590 million for the first half. The company overcame shipping disruptions from Middle East geopolitical conflicts, with revenues also rising 27%. New terminal acquisitions and foreign exchange gains contributed to the strong performance.
This article requires PRO
This article is outside the free access window or is a special report. PRO unlocks it and the full archive.
Related articles
- ICTSI H1 profit up 22% on brisk volumes, new ports
Global ports giant International Container Terminal Services Inc. (ICTSI), based in the Philippines, reported a 22% year-on-year increase in net income to $641.39 million for the first half of 2024, driven by the commencement of operations at new terminals in South Africa and Indonesia and higher cargo volumes.