Vivant profits rise on gains of power business

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Cebu-based investment holding firm Vivant Corporation reported a 25 percent hike in core net income to P1.73 billion last year from the P1.38 billion earned in 2020.

In a statement, the firm said it ended the year 2021 with a total consolidated attributable net income of P1.78 billion, an increase of 23 percent year-on-year from P1.44 billion.This comes as Vivant continues to provide adaptable solutions both in the energy and infrastructure sectors. Investments in power generation, electricity distribution and retail electricity comprise Vivant’s power business portfolio.

The electricity distribution business booked a net income contribution of P745.57 million, up 29 percent from P579.02 million in 2020. He added that, “We are also grateful to the government for laying out a policy that helps corporations survive the effects of the pandemic.” Vivant also reported a one-time gain of P44.96 millionn in 2021, mainly due to unrealized foreign exchange gains and its share in the fair value re-measurement of investment properties.

 

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