ICTSI posts volume and revenue increases for 2012

Recurring net income attributable to equity holders increased 15% after adjusting the previous year’s net income to US$124.4m from the one-time net gain of US$6.1m from the sale of ICTSI’s 16.79% ownership stake in Portek International and a one-time equity tax charge imposed by the Colombian tax authorities on all legal entities and individuals in Colombia.

During the period ICTSI handled consolidated volumes of more than 5.62m teu, up 8% on the previous year’s 5.23m teu.

The increase in volume was mainly due to the growth in international and domestic trade, new shipping line customers7 and routes, continuous containerisation of break bulk cargoes, the full period contribution of the Company’s new ports in Portland, Oregon, USA and Rijeka, Croatia, and the consolidation of the volume generated by the Company’s new terminal operations in Jakarta, Indonesia and Karachi, Pakistan. Excluding the volume from the four recent port acquisitions, organic volume growth was at four percent.