International Container Terminal Services, Inc. (ICTSI) reported a 15 percent decline in unaudited consolidated attributable net income to US$44.1 million in the first quarter of 2018 from the US$51.7 million earned in the same period last year due to drag from its new terminals.
ICTSI handled consolidated volume of 2,325,540 twenty-foot equivalent units (TEUs) for the first quarter of 2018, two percent more than the 2,272,647 TEUs handled in the same period in 2017.
The increase in volume was primarily due to continuous improvement in global trade activities particularly in the emerging markets, continuing ramp-up at ICTSI Iraq and ICTSI Democratic Republic of Congo (IDRC).
