MANILA, Philippines — Lopez-led First Gen Corp. reported a 46 percent jump in its net income in the first nine months of 2019, driven by higher electricity sales from its clean fuel platforms. In a disclosure to the Philippine Stock Exchange, First Gen said its net income attributable to equity holders in January to September reached $220 million (P11.5 billion), higher than the $151 million (P7.9 billion) in the same period last year. Consolidated revenues from the sale of electricity rose 11 percent to $1.616 million (P84.2 billion) from $1.462 million (P76.2 billion) in the same period last year. Meanwhile, the company’s recurring net income attributable to equity holders surged 21 percent to $217 million in the nine-month period from $180 million. EDC contributed recurring earnings from its geothermal, wind and solar platforms of $67 million in the first nine months of 2019, higher by $14 million compared to $52 million in 2018.

Source: Philippine Star November 14, 2019 16:00 UTC