Power business drives Lopez Holdings incomeBy JORDEENE SHEEX LAGAREhome/Business/Corporate News/Power business drives Lopez Holdings incomeStrong results from its energy business led to double-digit profit growth for Lopez Holdings Corp. in the first nine months of the year, the holding firm said on Thursday. Unaudited consolidated revenues were 17 percent higher at P91.188 billion. Lopez Holdings subsidiary ABS-CBN Corp., meanwhile, saw its net income fall by 34.7 percent to P1.48 billion due to higher expenses and lower advertising revenue. Formerly known as Benpres Holdings and incorporated in 1993, Lopez Holdings was established by the Lopez family to serve as the holding company for their investments in major development sectors. Lopez Holdings shares rose by six centavos to close at P3.85 each on Thursday, surpassing a 0.43-percent gain for the Philippine Stock Exchange index.

Source: Manila Times November 15, 2018 16:21 UTC