PPA net income rose to 31% in 2019
MANILA, Philippines — The net income of the Philippine Ports Authority (PPA) rose by 31% from P5.553 billion in 2018 to P7.280 billion in 2019.
In a statement issued on Wednesday, PPA General Manager Jay Daniel Santiago attributed the income increase to changes in port operations, such as automation and productive equipment.
“The changes range from manual to automated processes, installation of sophisticated, effective, and higher productivity port equipment, compliance with the world’s best port management practices, and most especially, the shift in the outlook of employees to public service with reliability, integrity, and accountability,” Santiago said.
The current net income is also higher by 54% than the 2017 net income of P4.473 billion.
According to PPA, the total revenues for 2019 rose by 5% to P18.352 billion from the 2018 revenue of P17.5 billion.
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