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BusinessWorld
August 5, 2021 | 12:09 am
By
Senior Reporter
METRO Pacific Investments Corp. (MPIC) managed to increase its second-quarter core net income this year by 82% to P3.5 billion, as more industries reopened.
“This acceleration of growth reflects an improvement in performance notwithstanding the continued imposition of varying levels of quarantine across the country and was partially augmented by the impact of the Corporate Recovery and Tax Incentives (CREATE) Law, which lowered income tax rates from 30% to 25%,” the company said in a statement on Wednesday.
The company said it benefited from the gradual reopening of more industries over the past year.
It also noted that the nationwide vaccine rollout enabled more businesses to reopen.