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Meralco& rsquo;s income hit P9.9 billion as sales rose 7% in 1st& nbsp;half

Manila Electric Co., the biggest electricity retailer, said Monday net income surged 45 percent in the first half of the year to P9.9 billion from P6.844 billion a year ago on the back of a 7-percent increase in energy sales volume with the gradual reopening of the economy......»»

Category: lifestyleSource: abscbn abscbnJul 26th, 2021

Ayala Land& rsquo;s profit up by 34% to P6b in 1st& nbsp;half

Property developer Ayala Land Inc. said Tuesday net income rose 34 percent in the first half to P6 billion from a year ago, on the back of double-digit growth in revenues......»»

Category: financeSource:  thestandardRelated NewsAug 4th, 2021

GERI reports 37% profit fall, improving sales

Global-Estate Resorts, Inc. (GERI), Megaworld’s integrated tourism and leisure unit, reported lower earnings in the first half of the year although sales have started to recover in the second quarter. In a statement, GERI said that, excluding non-recurring gains, the company’s net income for the first half of the year reached P728 million, down 9 percent from P801 million during the same period last year. Attributable net income dropped 37 percent to P544.8 million in the first half of 2020 from P865.13 million in the same period last year. Consolidated revenues for the first half of 2020 registered at P2.9 billion, reflecting a 29 percent decline from P4.1 billion during the comparable period last year. On the other hand, rental income weakened by only 8 percent from P377 million last year to P347 million in the first half of 2020 even if mall operations were affected by the Taal eruption in the first quarter, and the strict quarantine measures in the second quarter. Hotel operations declined by 67 percent from P484 million last year to P162 million for the first six months of 2020 due to the quarantine restrictions during the period. However, the decline in revenues from the company’s core businesses was offset by the 30 percent reduction in costs and expenses, from P3.1 billion in the first half of 2019 to P2.2 billion this year. “Boracay was closed to tourists during the second quarter but as soon as the quarantine measures were relaxed in June, we saw a steep climb on the sales of our commercial and village lots in Boracay Newcoast. Buyers now prefer residential and leisure products in nature-rich settings outside of Metro Manila,” explained GERI President Monica T.Salomon. GERI’s reservation sales of residential projects during the second quarter of the year rose to P3.6 billion from P2.2 billion in the first quarter. The firm noted that the growth was achieved even as the country was placed on strict lockdown due to the coronavirus pandemic. It did not provide comparative figures for 2019. Residential projects in Boracay Newcoast in Aklan, Arden Botanical Estate in Cavite, Eastland Heights in Antipolo, Rizal,  and Hamptons Caliraya in Laguna comprised the bulk of sales during the first half of the year, which reached P5.8 billion. “When the news of a possible lockdown came out in mid-March, we had already braced for a conservative outlook for our residential segment,” said Salomon. She added that, “But, while the country was placed on strict quarantine, we saw aggressive take-ups of our provincial projects. In fact, on the average, our second quarter sales are 61 percent of what we have booked for the entire first half of 2020. And we still have enough inventory to address the demand for residential projects in these areas.”.....»»

Category: sportsSource:  abscbnRelated NewsAug 3rd, 2020

Semirara& rsquo;s Q2 income rose 279% to P3.98b

Semirara Mining and Power Corp. registered a 279-percent surge in second-quarter consolidated net income of P3.98 billion from P1.05 billion year-on-year due mainly to record-high coal sales and prices......»»

Category: financeSource:  thestandardRelated NewsAug 4th, 2021

Meralco& rsquo;s core income fell 9% to P21.7 billion in 2020

Electricity retailer Manila Electric Co. said Monday consolidated core net income declined 9 percent in 2020 to P21.7 billion year from P23.8 billion in 2019 following a 7-percent drop in sales amid the impact of the coronavirus pandemic......»»

Category: financeSource:  thestandardRelated NewsMar 2nd, 2021

Puregold& rsquo;s income rose 4% to P5.05b in first nine months

Grocery chain operator Puregold Price Club Inc. said Wednesday nine-month net income rose 4.1 percent to P5.05 billion from P4.55 billion in the same period last year on the back of a double-digit growth in sales......»»

Category: financeSource:  thestandardRelated NewsOct 29th, 2020

Meralco& rsquo;s core earnings declined 15% to P15.7b in three quarters

Power retailer Manila Electric Co. said Monday it posted a core net income of P15.7 billion in the first three quarters, down 15 percent from P18.5 billion in the same period last year, as energy sales declined 7 percent......»»

Category: sportsSource:  abscbnRelated NewsOct 26th, 2020

GMA Network& rsquo;s income rose 4% to P1.4 billion in first semester

GMA Network Inc. said Monday net income grew 4 percent in the first half on lower expenses as a result of community lockdown imposed by the government to control the pandemic......»»

Category: financeSource:  thestandardRelated NewsAug 17th, 2020

GMA Network& rsquo;s profit increases 14% to P2.63b

GMA Network Inc. said Tuesday net income rose 14 percent in 2019 to P2.63 billion from higher political advocacies and traditional advertisements. .....»»

Category: sportsSource:  abscbnRelated NewsJun 16th, 2020

First Gen income up 6.6%

Lopez-led First Gen Corp. reported a 6.6 percent rise in its net income in the first half of the year to P9.4 billion ($195 million) as electricity sales improved......»»

Category: newsSource:  philstarRelated NewsAug 13th, 2021

ICTSI& rsquo;s net profit grew 73% in first half

International Container Terminal Services Inc. said Thursday net income rose 73 percent in the first half from a year ago on improvement in global trade, exceeding the 2019 pre-pandemic performance......»»

Category: financeSource:  thestandardRelated NewsAug 5th, 2021

Semirara& rsquo;s net profit surges 181% to P6.2b

Semirara Mining and Power Corp. said Tuesday consolidated net income surged 181 percent in the first half to P6.28 billion from P2.24 billion a year ago, and nearly doubled its 2020 full-year net income of P3.26 billion......»»

Category: financeSource:  thestandardRelated NewsAug 4th, 2021

SM Prime& rsquo;s profit increased 12% to P10.4b in first half

Property developer SM Prime Holdings Inc. posted a net income of P11.6 billion in the first half, up 12 percent from P10.4 billion in the same period last year, fueled by the strong performance of residential business......»»

Category: financeSource:  thestandardRelated NewsAug 3rd, 2021

BDO& rsquo;s 6-month income surged 400% to P21.4b

BDO Unibank Inc., the country’s largest lender controlled by the Sy family, said Monday net income in the first half jumped nearly 400 percent to P21.4 billion from P4.3 billion a year ago, on the back of strong earnings stream and normalized provisions......»»

Category: financeSource:  thestandardRelated NewsAug 3rd, 2021

Metrobank& rsquo;s net income soared 28% in first half

Metropolitan Bank & Trust Co. posted a 28-percent increase in net income to P11.7 billion in the first half of 2021......»»

Category: financeSource:  thestandardRelated NewsAug 3rd, 2021

CLI& rsquo;s reservation sales increase 14%

Cebu Landmasters Inc. said Monday reservation sales increased 14 percent in the first half to P8.5 billion from the same period last year on sustained housing demand in the Visayas and Mindanao......»»

Category: financeSource:  thestandardRelated NewsJul 6th, 2021

Puregold& rsquo;s profit jumped 19% to P8 billion in 2020

Puregold Price Club Inc., the grocery chain operator owned by tycoon Lucio Co., said Wednesday net income rose 18.9 percent in 2020 to P8.05 billion from P6.77 billion in 2019......»»

Category: financeSource:  thestandardRelated NewsMar 24th, 2021

SM Prime& rsquo;s profit dips to P18b as mall sales fall 60%

Property developer SM Prime Holdings Inc. said Monday consolidated net income fell 43.4 percent in 2020 to P18 billion from P31.8 billion in 2019 as its mall business was severely affected by the pandemic......»»

Category: financeSource:  thestandardRelated NewsFeb 15th, 2021

GMA& rsquo;s profit soars 78% to P3.90b; ABS-CBN loses P7.22b

GMA Network Inc. said Monday net income surged 78 percent in the first nine months to P3.90 billion from P2.19 billion a year ago despite the absence of incremental sales from the 2019 elections......»»

Category: financeSource:  thestandardRelated NewsNov 17th, 2020

AllHome& rsquo;s net income rose 2% to P312m in Q3

All Home Corp. said over the weekend net income grew 2 percent in the third quarter to P312 million from a year ago on the back of higher sales......»»

Category: financeSource:  thestandardRelated NewsNov 16th, 2020

Emperador books P5.9b in earnings

Liquor producer Emperador Inc. said Monday net income in the first nine months rose 11 percent to P5.9 billion from a year ago on higher international sales......»»

Category: sportsSource:  abscbnRelated NewsOct 26th, 2020