MPIC earnings rise as economy reopens

  • 📰 manilabulletin
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 51%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Metro Pacific Investments Corporation reported a 20 percent improvement in consolidated core net income to P12.3 billion last year from P10.2 billion in 2020.

In a press briefing, MPIC Chief Finance Officer June Cheryl Cabal-Revillas said “This substantial improvement from the 13 percent growth in the first half of the year was largely driven by improved traffic on its toll roads and higher volume of electricity sold by Manila Electric Company .”She added that, with this performance, the firm expects to grow its core profits by single digits to low double-digits this year.

Consolidated reported attributable net income more than doubled to P10.1 billion following the gain recognized from the sale of Global Business Power and Don Muang Tollways . “Based on our full-year performance, it is clear that we are now reaping the value created from years of strategic investments in upgrading our infrastructure, operational systems, and overall ability to provide quality services,” said MPIC Chairman and President Manuel V. Pangilinan.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 25. in İE
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Megaworld earnings boosted by REIT listingTowships developer Megaworld Corporation posted a 36 percent growth in net income to P14.4 billion last year from P10.6 billion in 2020, boosted by the listing of its real estate investment trust.
Source: manilabulletin - 🏆 25. / 51 Read more »