Metro Pacific Investments Corporation reported a consolidated core net income of P7.5 billion in the first half of 2022, a “post-pandemic high” and up by 24% from the P6 billion a year ago.
Power accounted for P5.9 billion or 60% of total net operating income, while toll roads contributed 26% or P2.5 billion. Water contributed 15% or P1.4 billion, while real estate, hospitals, fuel storage, and light rail businesses incurred a net loss of P35 million. On a quarter-on-quarter basis, MPIC’s second quarter profits stood at P4.3 billion, 38% higher than in the first quarter.
“We remain steadfast in our pursuit of other potential growth areas, particularly in agriculture, tourism, and logistics, but we are still mindful of the crucial role that MPIC plays in Philippine infrastructure and enabling the progress that our government envisions. I am hopeful that the positive tone toward infrastructure investment set by the new administration will lead to accelerating development for our country,” said MPIC chairman, president, and chief executive officer Manny Pangilinan.