Metro Pacific Investments Corporation recorded a consolidated net income amounting to P23.9 billion.
This figure presents an increment of 69 percent year-on-year.
The hospitals and power ventures of the company helped in the growth, as per Philippine daily newspaper The Philippine Star.
Also, the company’s water and tollways businesses contributed to this positive development.
The rising hospitals venture of Metro Pacific Investments Corporation chipped in P867 million to the firm’s income last year.
This number presents a contribution amounting to four percent. With this event, Metro Pacific Hospital Holdings, Incorporated recorded P2.7 billion as core net income.
This amount presents a growth of 14 percent on a 12-percent increase in aggregate revenues.
Furthermore, the power business of tycoon Manuel V. Pangilinan’s firm accounted for 55 percent of net operating income.
This percentage amounts to P11.6 billion. As for the water segment of the investments corporation, it provided 17 percent in the company’s income expansion.
This number totaled to P3.6 billion. In line with this development, the core net income of Maynilad remained flat.
Analysts recorded it at P7.7 billion for 2019. Meanwhile, the water venture of Metro Pacific Investments Corporation posted revenue gains amounting to P24 billion.
This rise translates to a nine-percent gain in the company’s water business.
Finally, the toll roads enterprise of the Pangilinan-led company accounted for 25 percent in the company’s income increase.
Metro Pacific Tollways Corporation contributed P5.2 billion in total. Furthermore, the tollways business posted a core net income increase of 18 percent in 2019.
This figure amounted to P5.3 billion on higher traffic on local roads. Tariff adjustments in various tollways also helped in these numbers.
Meanwhile, Metro Pacific Investments Corporation registered a combined net loss of P352 million.
They emanated from the firm’s logistics, rail, and other ventures. Jose Ma. Lim is the president of the firm.
He pointed to the thousands of devoted front line workers of the company. He said that these people boosted the operations of the firm through their hard work.
Lim relayed that their employees deliver world-class service. Moreover, the corporation’s chief executive officer referred to the premium-quality management of his company that enhanced operating efficiencies.
He cited that these factors helped in their growth.
Lim also mentioned that their firm’s seven-percent development in contribution from operations shows decades-long sustained investment in capital.
This advantage facilitates meaningful surges in volume in all the significant ventures of the company, he remarked.
On Thursday, February 27, 2020, Metro Pacific Investments Corporation (PSE: MPI) closed at P3.07.
This last trade price of the firm’s stock is up P0.10 or 3.37 percent. Besides, the total value reached P173,705,140.00.
The 52-week high of the company is at P5.28. The Philippine Stock Exchange recorded the 52-week low of Metro Pacific Investments Corporation at P2.69.
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