Lopez Holdings Inc.’s net income rose 33.0% to PHP 3.2 billion in the first nine months of the year, boosted largely by the strong performance of its power business. Unaudited consolidated revenues went up 10.0% to PHP 75.6 billion in the first nine months of the year from PHP 68.85 billion a year ago.
First Philippine Holdings Corp. reported a 36.0% jump in net earnings to PHP 4.7 billion on the back of higher revenues. Sale of electricity accounted for 85.0 of revenues.
On the other hand, media concern ABS-CBN Corp. suffered a 14.0% drop in net income for the nine-month period to PHP 1.5 billion in the absence of election-related advertising spending that boosted net earnings a year ago.