A top MPIC executive said over the weekend core subsidiaries—toll road, water and power—registered strong volume in the third quarter amid rising costs.The executive said with the strong third-quarter results, the group remained “on track” to meet the 2022 core net income target. The company is set to report its third-quarter income next month.
Power accounted for P5.9 billion or 60 percent of net operating income. This was followed by toll roads which contributed P2.5 billion and water which accounted for P1.4 billion. The conglomerate recently expanded into agriculture sector with the acquisition of a 51-percent interest in The Laguna Creamery Inc., the company behind The Carmen’s Best Ice Cream.
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