ICTSI’s net income rose to $484.5m in three quarters

International Container Terminal Services Inc. of businessman Enrique Razon Jr. said Wednesday its net income grew 4 percent in the first three quarters of the year on the back of higher revenues from port operations.

“Our strategy as an independent port operator supported by our cost and operational discipline means we are well-positioned for the rest of the year, as well as over the longer term,” he said. Consolidated cash operating expenses in the first nine months went up 12 percent to $489.14 million from $438.13 million a year earlier.

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