Based on its financial report, the PPA’s net income rose by two percent to P7.33 billion as of September from P7.16 billion a year ago.MANILA, Philippines — The Philippine Ports Authority posted a profit of more than P7 billion in the nine months to September, buoyed by the sustained recovery of logistics activities and sea travel.
On the other hand, expenses went up by 22 percent to P7.81 billion during the nine-month period from P6.42 billion a year ago as the agency was required to spend more on additional personnel and new projects. The PPA also registered a 67-percent jump in its non-cash spending to P4.4 billion between January and September.
To accomplish this, PPA general manager Jay Santiago said cargo volume may expand by eight percent and passenger footprint may rise by 20 percent on resurgent spending in the post-pandemic period. For 2022, the PPA enhanced its dividends to the government by nine percent to P4.44 billion, from P4.08 billion in 2021.
The Philippine Stock Exchange Inc. has moved the launch of its landmark short selling program to Nov. 6, it announced ye...
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