FPH 2018 earnings surge 76% to P10.3B - News Summed Up

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FPH 2018 earnings surge 76% to P10.3B

FPH 2018 earnings surge 76% to P10.3Bhome/Business/Corporate News/FPH 2018 earnings surge 76% to P10.3BFIRST Philippine Holdings Corp. (FPH) reported on Thursday that its net earnings soared to P10.3 billion last year on the back of strong power sales. In a filing on Thursday, the Lopez-led holding company said the amount was a 76-percent increase from P5.9 billion in 2017. Recurring net income attributable to FPH jumped by 52 percent to P10.4 billion in 2018 from P6.8 billion the year before. Incorporated and registered with the Securities and Exchange Commission as Meralco Securities Corp. on June 30, 1961, FPH has interests in power generation, real estate development, manufacturing and construction, financing, and other service industries. Its affiliates and subsidiaries include Meralco, First Gen Corp., Energy Developing Corp., First Philippine Industrial Corp. and Rockwell Land Corp.Shares of FPH added P2.70 or 3.53 percent to close at P79.20 apiece on Thursday.

Source: Manila Times March 21, 2019 16:13 UTC