Philippine Infradev Holdings [IRC 1.33 6.40%] posted a Q2/21 profit of P5.95 billion, up 28,674% from Q2/20 net loss of P0.02 billion, and up 71,938% from Q1/21 net loss of P0.01 billion. The Antonio Tiu-led IRC reported ?7.95 billion in revenues, which it said were “mainly due to the fair value gain on investment property”. IRC attributes the majority of the fair value gain that it booked on its investment property to lots purchased as part of the Makati City Subway project. Until something changes, we have to consider that fair value to be the “target” that IRC can beat or miss based on its execution of the subway plan. Merkado Barkada's opinions are provided for informational purposes only, and should not be considered a recommendation to buy or sell any particular stock.

Source: Philippine Star August 18, 2021 00:50 UTC