MPIC sustains growth momentum with 30% increase in Core Net Income new high

Metro Pacific Investments Corporation’s Consolidated Core Net Income rose 30% to a record high ₱5.6 billion in the first quarter of 2024 compared with ₱4.3 billion in the same period last year.

Among the Company’s core businesses, Power contributed the largest at ₱4.4 billion or 64% of Net Operating Income , while Toll Roads and Water contributed ₱1.5 billion and ₱1.4 billion, respectively, representing 42% of NOI. • Total Revenues slightly decreased 1% to ₱104.5 billion. o Lower energy fees resulting from lower plant availability at Global Business Power Corporation’s Cebu Energy Development Corporation power plant.

• Consolidated Core Net Income increased 11% to ₱10.1 billion, driven by continuing contributions from power generation, retail electricity supply, and other non-power businesses.• Toll Revenues rose 17% to ₱7.5 billion due to a combination of toll rate increases and traffic growth in the Philippines, Indonesia, and Vietnam.o Vietnam – increased 4% to 81,368 • Core Net Income improved further by 21% to ₱1.

Philippines Latest News, Philippines Headlines

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

Megawide’s core net income hits P269m as revenues rise 26%Defining the News
Source: MlaStandard - 🏆 20. / 55 Read more »

Meralco eyes P40-billion core net income in 2024Meralco is optimistic about reaching a core net income of at least P40 billion in 2024, as it believes it can sustain the growth it recorded in its bottom line in the first quarter of the year.
Source: gmanews - 🏆 11. / 68 Read more »

Meralco looking at P40-b core net income this yearDefining the News
Source: MlaStandard - 🏆 20. / 55 Read more »

DITO FY23 net loss: P8.1-B (30% improvement)DITO CME posted a FY23 net loss attributable of P8.1 billion, which is a 30% improvement over its FY22 net loss attributable of P13.8 billion.
Source: PhilstarNews - 🏆 1. / 94 Read more »

COL Reports 76% Increase in Net Income for FY23COL reported a net income of P426 million for FY23, showing a 76% increase. The growth was driven by higher revenues and lower operating expenses. Total customer accounts and deposits also saw an increase. While commission income fell, interest income rose significantly.
Source: PhilstarNews - 🏆 1. / 94 Read more »

Cosco Capital Corp. Reports 4.65% Increase in Net Income for 2023Cosco Capital Corp., the retail holding company of Lucio Co., saw a 4.65% rise in net income in 2023 due to strong performance in liquor and other retail businesses. Consolidated revenues also grew by 8% year-on-year.
Source: MlaStandard - 🏆 20. / 55 Read more »