ICTSI readies more acquisitions in 2012

Port developer International Container Terminal Services Inc. (ICTSI) is preparing for more acquisitions this year even as the lingering debt-driven slowdown in Europe threatens to weigh on revenue growth in 2012.

ICTSI chairman Enrique Razon Jr. said the company was “somewhat cautiously optimistic” for this year, saying that doubts on the strength of the global economic recovery prevented the company from painting a better picture.

“The general outlook is cautiously positive. We have seen growth in some areas, but it’s slow in other areas,” he told reporters on the sidelines of the company’s annual shareholders’ meeting last Thursday.

Since the start of the year, Razon said cargo traffic and revenues have grown at the company’s facilities in Latin America and Asia. Revenues from ports in Eastern Europe, however, have slumped.

ICTSI’s net income rose 33 percent in 2011 to $130 million amid the continued expansion of the company’s global operations.

ICTSI owns or operates facilities in the Philippines, China, Ecuador, Poland, Brazil, Madagascar, Syria, Georgia, Brunei, Indonesia, Japan, India, Colombia, Argentina, Croatia, Mexico and the United States.

Despite the less than rosy outlook, Razon said the company would continue expanding its reach, cementing its position as one of the world’s leading port developers.