
Economy
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.
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 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.