During a media briefing, MPIC Chief Finance, Risk and Sustainability Officer Chaye A. Cabal–Revilla said the optimistic forecast is based on how the firm’s core businesses are performing so far.She reported that MPIC’s consolidated core net income rose 33 percent to P9.9 billion in the first half of 2023 from P7.5 billion in the same period last year.
Among the company’s core businesses, power had the largest share at P9 billion or 72 percent of net operating income while Toll Roads and Water contributed P2.7 billion and P2.3 billion, respectively. Reported attributable net income increased eight percent to P10.2 billion compared with P9.5 billion last year, which had the benefit of gains from the acquisition of Landco Pacific Corporation.“Our consistently strong performance reflects significant volume increases for our core businesses on power, toll roads, and water, bolstered by favorable tariff adjustments and savings resulting from operational efficiencies,” said MPIC Chairman, President and CEO Manuel V. Pangilinan.