By
VG Cabuag - November 8, 2017
METRO Pacific
Investments Corp. (MPIC) reported consolidated core income rose 22 percent
during the nine months of the year to P11.3 billion on the strength of its
expanded presence in the power industry.
Core net income was
lifted by an expanded power portfolio through increased investment in Beacon
Electric Asset Holdings Inc., robust traffic growth on all roads held by Metro
Pacific Tollways Corp. and continuing growth in the hospital group.
In terms of contribution
to the company’s net operating income, power, which includes distribution and
generation accounted for P7.6 billion, or 54 percent of the aggregate
contribution; toll roads contributed P3 billion, or 21 percent of the total;
water, which includes distribution, production and sewerage treatment
contributed P2.8 billion, or 20 percent; the hospital group provided P518
million, or 4 percent of the total; and rail, logistics and systems group
delivered P173 million, or 1 percent.
“Our earnings growth reflects
our increased investment in the power sector together with strong volume growth
at our toll roads and hospitals businesses,” said Jose Ma. K. Lim, MPIC
president and CEO.
“I believe we are
getting close to resolution with the government of at least some of the tariff
issues that have held back growth in earnings in recent years,” he added. “We
are working through the practicalities of long delayed but achievable price
increases while being fair to tax payers. We are jointly determined to prevent
a repetition of these issues building up again in the future.”
MPIC Chairman Manuel V.
Pangilinan said the company may end up with a full-year core net income of
P13.8 billion, a new record high. The said figure is 14 percent higher than
last year’s P12.1 billion. The nine-month income of MPIC was at P9.3 billion
last year.
Pangilinan said the
company is willing to take challenge posed by the Metro Rail Transit Line 3.
“Our selective
expansion into Asean is continuing to build momentum,” Pangilinan said. “Meanwhile,
here in our home market, I believe that our various long-standing regulatory
issues are slowly seeing some light of day, and hopefully will develop into
satisfactory closure finally.”
No comments:
Post a Comment