Metro Pacific Investments Corporation (MPI) reported a 14.0% increase in its first quarter core net income on the strength of its four main businesses.
Core net profit reached PHP 2.6 billion during the first three months of the year, mainly driven by higher earnings at its tollways , water, power and hospital units.
Reported net income, on the other hand, went up four percent to PHP 2.4 billion.
Maynilad Water and Manila Electric Co. accounted for 37.0% of MPI aggregate operating income followed by Metro Pacific Tollways Corp. (MPTC), which contributed 22.0% and the hospital group, which pitched in four percent of the total.
For its hospitals division, core net income was reported at PHP 293.0 million, up 16% year-on-year on growing patient revenues, gains from completed capital expenditure programs and effective cost-efficiency measures.
MPIC Hospital Group will remain on the lookout for acquisitions to further bolster the 2,245-bed count of all its nine hospitals across the country.