MANILA, Philippines—Ports and gaming mogul Enrique K. Razon Jr.’s International Container Terminal Services Inc. (ICTSI) saw profits surge in the first quarter of 2021 as global trade continued to recover despite the COVID-19 pandemic.
From January to March, ICTSI recorded a net income of $90.1 million, up 51 percent, while revenues jumped 16 percent to $435.6 million, a stock exchange filing on Thursday (May 6) showed.
“ICTSI has delivered strong operating performance in the first quarter of 2021, with volume, revenue and earnings rising across our three regions: Asia, the Americas, and Europe, Middle East, and Africa,” Razon said in a statement.
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Keep on reading: ICTSI sees 51 percent net income jump in first quarter as trade recovers