BusinessWorld
May 7, 2021 | 12:09 am
RFM Corp. recorded a 51% increase in its attributable net income to P320 million in the first quarter due to sustained topline growth in its milk, pasta, and flour brands, it said in a regulatory filing on Thursday.
Total sales for the January-March period rose 4% to P3.34 billion from P3.22 billion year on year, the listed food and beverage company said.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) increased 39.3% to P627 million against P450 million a year ago.
“RFM’s consumer brands Selecta Fortified Milk and Fiesta and Royal pasta and sauce brands grew 9% from year ago levels alongside its ice cream business. Its White King hotcakes and bowl mixes business also grew 3% for the quarter,” the company said.
BusinessWorld
May 6, 2021 | 12:09 am
By
Senior Reporter
METRO Pacific Investments Corp. (MPIC) on Wednesday reported a 272.06% increase in its first-quarter attributable net income, owing to the sale of its stakes in a power producer and a toll road business in Thailand, as well as the recently signed tax incentives law.
MPIC’s attributable net income for the first quarter reached P7.03 billion, up from P1.89 billion in the same period last year, the company said in a statement to the stock exchange.
The company said it benefited from the gain recognized from the sale of Global Business Power Corp. and Thailand’s Don Muang Tollway Public Co. Ltd.
April 8, 2021 | 12:05 am Font Size
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CEBU Landmasters, Inc. (CLI) reported a net income attributable to the parent firm of P1.85 billion, or down by 8%, which the listed real estate developer said was within its profit guidance for 2020.
“[The company immediately deployed] catch-up measures shortly after the relaxation of lockdowns triggered by the pandemic in the first half of 2020,” CLI Chairman and Chief Executive Officer Jose R. Soberano III said in a statement on Wednesday.
The company said the single-digit profit decline was due to its “market-leading VisMin (Visayas-Mindanao) advantage and sustained demand [across residential] product line.”
Consolidated revenues for the year amounted to P8.3 billion, inching down by 2.4% from P8.5 billion. Meanwhile, revenues for the fourth quarter went up by 18% to P2.59 billion from P2.2 billion in the previous quarter.
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BusinessWorld
March 4, 2021 | 12:09 am
Pandemic hits toll roads, rail services, water and power businesses
METRO PACIFIC Investments Corp. (MPIC) said on Wednesday that its core net income last year had declined 34% to P10.2 billion as the global health crisis slowed down economic activities and reduced business operations.
“MPIC’s consolidated core net income for 2020 declined 34% to P10.2 billion owing largely to the economic contraction brought about by the COVID-19 pandemic,” the Manuel V-Pangilinan-led holding firm said in a regulatory filing.
MPIC said contributions from its operating businesses were down 26% because of reduced toll road traffic, suspended and decreased light rail services, and lowered demand for water and power last year, among others.