Philippines ro-ro and ro-pax owner 2Go Group has posted 24% growth in net profit for 2016.
Earnings for last year reached PHP 1.34bn ($26.93m), up from the PHP 1.08bn seen in 2015, Business World reported.
It attributed the result to sustained growth in logistics and improved cost efficiencies.
Overall revenue rose 17% to PHP 19.28bn, while shipping revenue increased 6% to PHP 8.96bn due to higher volumes.
Total costs grew 15% to PHP 16.74bn, with fuel prices relatively low.
