Razon-led International Container Terminal Services, Inc. said net income attributable to equity holders in the first half of the year dipped by 6 percent to $97.7 million from $103.6 million last year due to one-off costs.
“The decrease in net income was due primarily to the start-up costs of the new terminals in Papua New Guinea and Australia; and the $7.5-million non-recurring gain on the termination of the sub-concession agreement in Nigeria in the second quarter of 2017 tapered by the strong operating income from organic terminals,” ICTSI said in a disclosure on Tuesday.
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