Wednesday 24 April
Apr 14, 2019 @ 19:20

Lopez holding firm bounces back as profit jumps to P5.9B

 

Lopez Holdings grew its consolidated net earnings by 39% to P5.89 billion last year, powered by the strong performance of its energy units and higher contributions from its real estate and manufacturing businesses.

See related story: Lopez family extends First Philippine Holdings? P6B buyback program

First Philippine Holdings Corp. saw its profit surge 76% to P10.28 billion.

See related story: Forex losses pull down Lopez profits from First Holdings

Aggregate revenues went up 20% to P125.39 billion while recurring earnings soared 53% to P10.4 billion.

See related story: Lopez-owned First Philipping Holdings to pump in P1B in 2 subsidiaries

Meanwhile, ABS-CBN reported a 40% decline in profit to P1.91 billion.

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