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BusinessWorld
April 14, 2021 | 12:04 am
LISTED holding firm A. Soriano Corp. (Anscor) generated P165.65 million in attributable net income for 2020, declining by nearly 91% from P1.84 billion in the previous year due to “significantly lower” revenues.
In a regulatory filing on Tuesday, it reported a 24.8% fall in revenues to P7.56 billion from P10.05 billion.
Consolidated gross revenues amounted to P6.9 billion, dropping by 35.5% from P10.7 billion “mainly due to decrease in market value of FVPL (fair value through profit and loss) investments.”
Anscor’s net revenues from the sale of goods amounted to P6.45 billion, 21.4% lower than the P8.21 billion recorded in the previous year.