Profits up at ICTSIProfits up at ICTSI

The profits come as gross revenues also rose 10% from $664.8m in 2011 to $729.3m in 2012.

ICTSI handled 5.63m teu for the year to 31 December 2012, an 8% rise on 2011's 5.23m teu . The company attributes the growth in volumes to increases in global trade as well as the full year contributions of its new ports in Oregon and Rijeka and consolidation of the volumes of new terminal operations in Jakarta and Karachi. Organic growth excluding the recent acquisitions stood at 4%.

The company's six main terminal operations In Manila, Brazil, Poland, Ecuador, Madagascar and China, which account for 73% of the group's 2012 volumes, saw growth of six percent to 4.11m teu.

ICTSI has set a capital expenditure budget for 2013 of $550m for completion of terminal developments in Argentina and Mexico as well as construction activities in Colombia and Davao in the southern Philippines.