Its bottom line was fueled by a higher income contribution from its power generation business, led by the Therma South power plant in Davao City. Adjusting for non-core items, its core net income in the first nine months of 2016 amounted to P15.2 billion, up 17 percent year-on-year. The company noted that Therma Power Inc. completed the agreements for acquiring The Blackstone Group’s effective partnership interests in GNPower Mariveles and GNPower Dinginin. Power distributionThe power distribution group’s contributed earnings increased by 11 percent at P2.9 billion from P2.6 billion. AboitizPower is the holding company for the Aboitiz Group’s investments in power generation, distribution, and retail electricity services.

Source: Manila Times October 26, 2016 17:26 UTC