MPIC expects 2022 results to ‘at least approach’ 2019 level - BusinessWorld Online

“We expect that this year will be better than last year,” MPIC Chairman Manuel V. Pangilinan said during a virtual briefing.

The company’s core net income for the first half of 2022 was P7.5 billion, up 24% from P6 billion in the previous year, it said in a press statement on Wednesday.“Improved financial and operating results of the constituent companies delivered a 15% increase in contribution from operations, mainly driven by a strong recovery in toll road traffic and growth in power consumption as more industries ramped up operating capacity,” the company said.

“Average interest rates on borrowings have been significantly reduced and resulted in a 12% decline in net interest costs in the first half of 2022,” MPIC said.

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