The Philippine Ports Authority recorded more than P4.5 billion in net income for the first four months of the current year, up by 35 percent during the same period last year.
January to April net income totaled P4.522 billion against the P3.344 billion in the first four months of 2022, according to PPA data.
Broken down by month, the PPA’s net income were P1.4 billion in January, P1.1 billion in February, P749 million in March and P1.3 billion in April.
The Port Management Offices of National Capital Region South, Batangas, Davao, Northern Luzon and Bataan/Aurora were the top five revenue earners of PPA. The five PMOs’ income also improved from their earnings in 2022.
The PPA said its revenue performance in the first four months of 2023 beat the agency’s pre-pandemic income before tax of P4 billion for the same months in 2019.
Meanwhile, PPA reported that 12.83 percent or P1.2 billion of its 2023 capital outlay of P9.7 billion has been released to various operating units as of 30 April, with P884.85 million or 70.83 percent of it disbursed.
PPA has been aggressively expanding public port infrastructure.
Last year’s 62 projects included the construction of port operational areas and passenger terminal buildings, installation of LED lights, dredging of entrance channels and renovation of port buildings.
The top five infra projects completed were the expansion of the Port of Abra De Ilog in Occidental Mindoro; construction of breakwater in the Port of Nasugbu in Batangas; improvement of the Port of Isabela in Isabela City, Basilan; construction of the Passenger Terminal Building at the Port of Calapan in Oriental Mindoro; and construction of a back-up area at the Port of Ozamiz City, Misamis Occidental.
Some 30 new infrastructure projects aim to greatly help in the country’s ease of doing business, travel and connectivity in the next years, as part of the Marcos administration’s Build, Better, More program, a continuation of the “Build, Build, Build” infrastructure development of the Duterte administration.
Earlier, the PPA reported that it remitted P4.44 billion in 2022 revenues to the Bureau of Treasury, nine percent higher than the P4.08 billion it remitted in 2021.