World Point Terminals (WPT) has reported 9.96 percent rise in profit for the year ended Dec. 31, 2016. The company has earned $36.43 million in the year, compared with $33.13 million for the last year.

Revenue during the year grew 3.64 percent to $99.62 million from $96.13 million in the previous year. Total expenses were 62.70 percent of annual revenues, down from 64.93 percent for the last year. This has led to an improvement of 223 basis points in operating margin to 37.30 percent.

Operating income for the year was $37.16 million, compared with $33.71 million in the previous year.

However, the adjusted EBITDA for the year stood at $64.28 million compared with $62.69 million in the prior year period. At the same time, adjusted EBITDA margin contracted 70 basis points in the year to 64.52 percent from 65.21 percent in the last year.

"I am satisfied with the financial and operational growth that World Point experienced during 2016," said Ken Fenton, president and chief operating officer of WPT GP, LLC, the general partner of the Partnership. "Market conditions remained challenging throughout 2016 and have persisted in the first part of 2017, most notably at the Galveston terminal, where we continue to experience intense competition and lower than average customer retention, and also at the Baton Rouge and St. Louis terminals where customers negotiated reduced volumes and shorter contract terms.