International Container Terminal Services Inc (ICTSI) achieved higher profit during the second quarter as container volumes rose at its terminals and Covid-19-related expenses declined.
The Philippines-based terminal operator posted $159m in net income attributable to equity holders, up 5% from $152m in attributable net profit realised in the same period in 2022.
The profit gain was offset by a non-recurring impairment charge for goodwill attributed to Pakistan International Container Terminal (PICT) and higher depreciation and amortisation, loan interest and lease liabilities.
