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MER eyes 4% sales growth in 2015

30 Jan

BY RCBC SECURITIES

Manila Electric Co. (MER) said it likely ended 2014 with a 3% sales volume growth, on track to beat its core profit target of PHP 17.8 billion, and might be able to hit another 3 to 4% growth in power sales in 2015.

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MER’s 9M 2014 core net income hit PHP 14.3 billion, up 5.4% yoy. The distributor will release its 2014 full-year financial results next month.

We reiterate our net income forecasts of PHP 18.6 billion for 2014 and PHP 18.2 billion for 2015.

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Posted by on January 30, 2015 in Corporate News, MER, Stock Market

 

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