MANILA, Philippines — Metro Pacific Investments Corp. (MPIC), the tollways and infrastructure conglomerate chaired by tycoon Manuel V. Pangilinan, reported a consolidated core net income of P8.7 billion in the first half, slightly up from P8.6 billion a year ago. Consolidated reported net income, meanwhile, declined nine percent to P8.1 billion due to P560 million of nonrecurring expenses compared to the P341 million gain in 2018. In the second quarter alone, core net income reached P5.1 billion compared to P5 billion a year ago, while net income attributable to shareholders decreased to P4.6 billion from P5.1 billion last year. Metro Pacific Tollways Corp., meanwhile, recorded core net earnings of P2.4 billion, up six percent as a result of higher traffic on domestic roads and lower traffic on regional roads. Maynilad Water Services Inc. reported a core net income growth of nine percent to P4.6 billion on higher revenues.

Source: Philippine Star August 01, 2019 16:07 UTC