Asian Terminal Inc. on Tuesday said its net income fell 30.9 percent to P1.15 billion in the first nine months of the year mostly because of weak international cargo volume.
In the third quarter alone, profits dropped by 50.97 percent year-on-year to P369.33 million.

Revenues in the first nine months were down by 3.4 percent to P3.29 billion despite a 14.3 percent increase in domestic terminal operations as gains from international non-containers dropped 44.8 percent.

Revenues from international containers rose by 1.4 percent at the South Harbor but fell 13.5 percent at the Batangas Port Phase 1.

The company earlier secured an authority from Philippine Ports Authority to operate the Batangas Port Phase 2, which has a 128-hectare container terminal area, bigger than the 20-hectare first phase operated by the same company for domestic traffic.

ATI shares fell to P7.70 each on Tuesday from P8 on Monday.