Listed 8990 Holdings Inc. saw its net income grow by 19 percent to P5.6 billion last year from P4.7 billion in 2018. 8990 expects both the lockdown measures and the passage of Republic Act 1146, or the “Bayanihan to Heal as One Act,” to have reduced its collections in the second quarter, but sees a rebound after that. It would not only focus on increasing revenues for the second half, but also on maintaining their liquidity, it added. We have already taken steps in the beginning of the pandemic to reinforce our already strong balance sheet. 8990 shares shed 8 centavos or 0.94 percent to close at P8.45 each on Tuesday.

Source: Manila Times August 04, 2020 17:54 UTC