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International Container Terminal Services Inc. (ICTSI) said Thursday that its first-quarter net profit rose 15% from the year-earlier period, boosted by double-digit growth in its revenue and cargo volume.
ICTSI said net profit in the January-March quarter rose to $40.7 million from $35.4 million in the year-earlier period, while total revenue increased 20% to $209.3 million from $173.8 million.
ICTSI said the increase in volume was due mainly to the continuous growth in both international domestic trade in most of the company’s container ports and the additional volume generated by its new operations in Indonesia and Pakistan. The company also has port operations in China, Brazil, Poland, Ecuador, Madagascar, India, Brunei, U.S., Colombia, Argentina, Croatia, Georgia and Pakistan. It has stopped operations in Syria.
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