ICTSI net income drops to $511.5M

by The Manila Times

Mar 02, 2024 12:21 am

RAZON-LED International Container Terminal Services Inc. (ICTSI) on Friday said its net income fell by 17 percent to $511.53 million last year from $618.46 million in 2022.

ICTSI said the profit drop was due to a number of factors, including the non-recurring and non-cash impairment of goodwill attributed to the acquisition of Pakistan International Container Terminal (PICT) in Karachi and other non-current assets.

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