Stock News 2011: Metro Pacific’s consolidated net income grows by 25% to P2.87B

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Infrastructure holding firm Metro Pacific Investments Corp. grew its consolidated net income by 25 percent to P2.87 billion in 2010 on higher profit contributed by its water, tollway and power distribution businesses.

Excluding foreign exchange losses and other non-recurring adjustments worth a combined P985 million, consolidated core net income surged by 88 percent to P3.86 billion in 2010, MPIC disclosed on Thursday.

"MPIC is well-poised to pursue further infrastructure opportunities, to improve operational and service efficiencies and help boost the economy."

With the 88 percent growth in core net income for 2010, MPIC declared a final cash dividend for the year of 1.50 centavos per share, bringing the total dividend for 2010 to 2.5 centavos per share.

http://business.inquirer.net/money/breakingnews/view/20110303-323266/Metro-Pacifics-consolidated-net-income-grows-by-25-to-P287B