Zero hunger seen attainable by 2030 with 7% agri output growth bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
Published April 29, 2021 11:49am Conglomerate Aboitiz Equity Ventures Inc. (AEV) saw a massive recovery in the first quarter of 2021, on the back of strong performance across its businesses. In a disclosure to the Philippine Stock Exchange, AEV reported a consolidated net income of P7.6 billion for the January to March period, up 276% from the P2 billion recorded in the same period in 2020. “The first quarter of 2021 is solid proof that the Aboitiz Group is already making headway in its recovery and growth plans for the year,” said Sabin Aboitiz, Aboitiz Group president and CEO. The company said its power business accounted for 58% of the total income contributions during the period while financial services accounted for 29%.
Pilmico to ensure efficient, fast delivery of quality meat mb.com.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mb.com.ph Daily Mail and Mail on Sunday newspapers.
Aboitiz Equity net income up 13% in Q4
Published March 8, 2021 7:09pm Aboitiz Equity Ventures Inc. posted a double-digit increase in its profits during the fourth quarter of 2020, but this was not enough to offset losses the company incurred earlier in the year due to the COVID-19 pandemic. In a regulatory filing, Aboitiz Equity said its net income rose by 13% to P7.1 billion in the last three months of 2020 versus the P6.3 billion the same period in 2019. Aboitiz Equity recognized non-recurring net losses of P472 million during the period versus the P671 million in non-recurring net gains in 2019. Without these, AEV said its core net income was 34% higher at P7.6 billion.
(Bloomberg) Philippine conglomerate Aboitiz Equity Ventures Inc. is considering a sale of a minority stake in its animal feed business Pilmico Foods Corp., people familiar with the matter said.Aboitiz is considering selling about 20% to 30% of the unit, the people said, asking not to be identified because the information is private. The transaction could value the entire business at more than $1 billion, they said.Deliberations are ongoing and the companies could decide against a deal, the people said. A representative for the company declined to comment.Pilmico has more than 29 facilities, including flour and feed mills, pig farms and a meat-cutting facility across nine Asia-Pacific countries, according to its website. It bought a controlling stake in animal feed producer Gold Coin Management Holdings Ltd. from Golden Springs Group for $334 million in 2018. Gold Coin became wholly owned by Pilmico in 2019.The potential stake sale comes after Aboitiz cut its planned capital expenditu