ICTSI operating profits up 41% through Q3

ICTSI operating profits up 41% through Q3    Global terminal operator International Container Terminal Services Inc. said Thursday its operating profit through the first three quarters of the year, $182.4 million, was 41 percent higher than in the same period in 2009.
   The Manila-based company operates mostly niche terminals in Asia, Africa, South America, the Middle East and Europe, and took control of its first North American terminal in Portland last year. Its flagship facility is in the Port of Manila and it operates 21 terminals in 15 countries.
   Revenue for the company grew 27 percent through the first nine months of 2010 to $380.6 million. ICTSI's three-quarter volume surged to a record 3.1 million TEUs, up 21 percent on the same period in 2009.
   'The increase in volume was mainly due to the continued recovery in global trade, particularly in markets where ICTSI's ports are located,' the company said.