Investing Stocks in Philippines: Net income

Showing posts with label Net income. Show all posts

Tuesday, June 4, 2013

Stock News 2013: UCPB income up 18% in 1st quarter

English: The new logo of United Coconut Planters Bank (Photo credit: Wikipedia)

United Coconut Planters Bank (UCPB) posted an 18 percent increase in net income in the first quarter to P1.04 billion from P883.7 million in the same period last year.

In a statement, UCPB president and chief executive officer Jeronimo Kilayko said the growth in income was mainly driven by a 51 percent improvement in non-interest income.

Kilayko also noted a 70 percent increase in trading and securities gain from treasury activities to P 829.1 million.

Likewise, income from trust operations increased 42 percent to reach P 32.4 million.

Total loans increased 16 percent to P91.1 billion from the same period a year before, with consumer loans growing at a stronger pace of 30 percent as a result of the bank’s more aggressive stance towards marketing its consumer loan products.

“We have placed a great deal of focus on the needs of our customers and meticulously worked to provide them with a range of investment products tailored to their requirements,” Kilayko said.

“We believe that our close relationship with our customers allow us to customize and respond to their needs accordingly.”

The bank’s revenue growth continues to outpace the slight increase in operating expense of P1.32 billion, a minimal increase of 4.6 percent over the first quarter of 2012.

The combined performance of revenue and operating expense components enabled a robust increase in net income.

http://www.philstar.com/business/2013/05/29/947413/ucpb-income-18-q1

Sunday, April 28, 2013

Stock News 2013: SM profit jumps 22% in Q1

SM Prime Holdings (Photo credit: Wikipedia)

SM Investments Corp. (SMIC), the investment holding vehicle of the country’s richest man Henry Sy Sr., will outpace its targeted profit growth this year on the back of a 22-percent jump in first quarter earnings, top company executives said.

“From the figure I saw from the first quarter, I feel that we can have the range of about 15-17 percent (income growth),” said SMIC chief finance officer Jose Sio.

In its 2013-2015 plan, SMIC targets its profits to grow 12-15 percent annually, supported by the company’s continuous expansion.

But in the first quarter this year, its net income climbed 22 percent to P7.4 billion as revenues rose 15 percent to P56.8 billion from P49.6 billion a year ago.

“The growth was driven by the surge in earnings of SM’s banking business, coupled with strong earnings growth from SM’s mall and property businesses,” the company said.

“With the continuing rise in remittances from overseas Filipinos, the expansion of the country’s outsourcing sector and the recent credit upgrade of the Philippines to investment grade, we are confident of achieving even better results in the second quarter and beyond,” said SMIC president Harley T. Sy.

Of the first-quarter profits, SMIC derived 59.7 percent from banking (BDO Unibank Inc.), 15.8 percent from malls (SM Prime Holdings Inc.), 14.1 percent from retail operations (SM Retail Inc.) and 10.4 percent from property (SM Development Corp. and SM Land).

The trend regarding income contribution will continue given the strong financial sector in the Philippines, Sio said.

BDO’s earnings surged 257 percent to P10 billion in the first quarter as net interest income climbed 14 percent to P9.6 billion on the back of a 16-percent growth in customer loans and a nine-percent uptick in total deposits.

The country’s largest bank in terms of assets expects its full-year income to reach P20.4 billion.

Mall developer and operator SM Prime recorded a 15-percent gain in consolidated net income to P2.8 billion in the first three months of the year. Its revenues grew 11 percent to P7.8 billion.

SM Prime said its five malls in China contributed P700 million in revenues, up nine percent from last year.

SM Prime has 46 malls in the Philippines with a total gross floor area of 5.6 million square meters (sqm). In China, it has five malls with a total gross floor area of 0.8 million sqm.

For its part, SM Retail reported an income of P1.2 billion, up four percent from last year as sales rose 5.8 percent to P36.4 billion.

As of end-March, SM Retail had 201 stores consisting of 46 SM Department stores, 37 SM Supermarkets, 37 SM Hypermarkets and 81 SaveMore stores, up from just 176 stores in the same period last year.

SM’s property group recorded a net income of P1.8 billion, up 19 percent from last year. SMDC accounted for 76 percent of earnings.

In the first quarter, SMDC’s consolidated net income rose 12 percent to P1.4 billion.

The developer will launch four new projects this year that will introduce 13,000 condominium units to the market.

http://www.philstar.com/business/2013/04/26/934905/smic-profit-jumps-22-q1

Friday, April 26, 2013

Stock News 2013: Meralco income surges to P4B in Q1, up 19.3%

Photo of Manny (Photo credit: Wikipedia)

Manila Electric Co.’s consolidated net income in the first quarter grew 19.3 percent to P4.02 billion, from P3.37 billion in the same period last year, mainly on higher energy sales.

Meralco chairman Manuel V. Pangilinan said in a briefing Monday that the first quarter results were “slightly ahead” of expectations.

The country’s largest power distribution utility, which is controlled by Hong Kong-based First Pacific Group, also reported a 17.7 percent increase in core net income, which rose to P4.02 billion in the first three months of the year from P3.42 billion in the same period last year.

Meralco attributed the profit growth to the sustained increase in new customers, energization of new real estate developments such as the Pagcor Entertainment City and increased consumption driven by remittances of overseas Filipino workers and the business process outsourcing sector.

In terms of electricity sales volume, Meralco reported 1.2 percent increase to 7,777 gigawatt-hours from 7,687 gigawatt-hours during the period.

However, revenues slowed down by 1.5 percent to P64.16 billion from P65.12 billion due to lower power supply cost from the company’s new suppliers, which was slightly offset by the “moderate” increase in energy sales volume.

Meralco’s power supply costs are passed on to consumers.

Meralco’s average rates dropped by P0.03 to P9.32 per kilowatt-hour.

Customer numbers, meanwhile, reached 5.23 million as of end-March 2013, having grown 3.3 percent or by more than 165,000 new accounts since March 2012.

For the rest of the year, Pangilinan declined to give specific targets on sales and income targets until the second-quarter results have been reported, citing erratic demand for power.

April was a growth period, he said, with a 7.8 percent growth in sales but it remains to be seen whether sales volume will increase enough for the rest of the year to make up for cheaper rates.

SVP Alfredo Panlilio said April sales growth was attributed to residential customers’ increased use of appliances to cope with high temperatures, the resumption of operations of cement and steel plants that were down on maintenance in March, and the start of operations of Solaire hotel and casino in Pagcor City.

Meralco, which posted a 9-percent increase in core net income to P16.3 billion in 2012 from P14.9 billion in 2011 on the back of higher electricity sales, also seeks to acquire a Singaporean power firm in partnership with Hong Kong-based investment holding First Pacific Co. Ltd.

http://business.inquirer.net/118049/meralco-income-surges-to-p4b-in-q1-up-19-3

Tuesday, March 12, 2013

Stock News 2013: Aboitiz group reports 2012 net income of almost P24 B

English: A logo for the Union Bank of the Philippines (Photo credit: Wikipedia)

Aboitiz Equity Ventures Inc. increased its net profit last year by 13 percent to P23.9 billion on higher earnings from its power, banking and food-related businesses.

Excluding non-recurring items, AEV’s core earnings for 2012 totalled P23.4 billion, up by 12 percent. One-time items were booked from the following: A gain of P541 million from its power business, including a one-time gain from the revaluation of dollar-denominated liabilities and placements; non-recurring net loss brought about by the higher fuel cost booked by its geothermal plants due to reimbursements made to its steam supplier; the downward revenue adjustment of a wholly owned subsidiary as a result of an Energy Regulatory Commission ruling regarding its ancillary services contract; and -the debt prepayment cost incurred at parent level.

The full-year net profit last year translated to P4.33 in earnings per share for AEV. Power continued to account for the lion’s share of earnings at 78 percent while the banking and food units contributed 16 percent and 5 percent, respectively.

For the fourth quarter alone, AEV’s consolidated net income amounted to P5.9 billion, 15 percent higher year-on-year. Adjusting for non-recurring items, AEV closed the quarter with an 8 percent year-on-year growth in core net income to P5.7 billion.

Flagship unit Aboitiz Power Corp. ended the year with an income contribution of P18.8 biliion versus last year’s P16.5 billion. Excluding non-recurring items, the power unit recorded a 13 percent increase in its earnings share to P18.2 billion.

In 2012, the power generation business contributed P17.5 billion in earnings, recording a 12 percent growth due to the higher average selling price (+3 percent) and net generation recorded for the period. Meanwhile, improved sales volumes and margin expansions supported a 19 percent increase in the power distribution group’s income contribution to P2.2 billion.

Income contribution from banking grew by 12 percent to P3.9 billion. Union Bank of the Philippines (UnionBank) ended the period with an earnings contribution of P3.3 billion, up by 14 percent on the back of higher net interest income and hefty trading gains. Non-listed thrift bank unit City Savings Bank, Inc. (CitySavings), contributed earnings of P520 million in 2012, which was lower by 2 percent year-on-year mainly attributed to the bank’s ongoing expansion program which led to a 28 percent increase in operating expenses.

http://business.inquirer.net/110917/aboitiz-group-reports-2012-net-income-of-almost-p24-b

Monday, November 12, 2012

Stock News 2012: Petron net profit slumps

Petron Corporation (Photo credit: Wikipedia)

Petron Corp., the country’s biggest oil refiner and retailer, registered an 88-percent drop in its consolidated net income to P932 million in the first nine months of 2012 from the P7.6 billion it posted in the same period last year.

The oil company explained that it continued to experience depressed margins because of the volatility in global oil markets in the second and third quarters of 2012. The Malaysian operation contributed only P155 million in consolidated net income for the January-to-September period, Petron said in a disclosure to the Philippine Stock Exchange on Monday.

In the third quarter alone, Petron posted a modest net income of P500 million, a turnaround from the P2.1-billion net loss it incurred for its consolidated operations in the second quarter this year.

In terms of revenue, however, Petron managed to post a 52-percent jump to P307.3 billion. Local fuel sales and exports grew by 4 percent to 35.6 million barrels, contributing P212.4 billion to the total revenue. The consolidation of Petron Malaysia beginning the second quarter likewise added 17.6 million barrels in volumes and revenues valued at P94.9 billion.

The increases in the volume of fuel products sold was attributed to Petron’s massive retail expansion program, which marked a milestone during the third quarter this year when the company’s service station network breached the 2,000 mark.

Overall, Petron said it has fortified its leadership position with 39 percent of the total market as of end-July this year.

In the case of its Malaysian operations, the company’s priority continued to be the rebranding of Esso and Mobil service stations into the Petron brand. The company aims to rebrand 550 service stations over the next few years. The new stations feature improved facilities and personalized services.

http://business.inquirer.net

Friday, November 9, 2012

Stock News 2012: MPIC net income up 22% in Q3

Photo of Manny (Photo credit: Wikipedia)

The strong performance of all its operating units allowed Metro Pacific Investments Corp. (MPIC) to grow its earnings by more than a fifth in the third quarter.

In a statement, MPIC said its core net income, which strips out currency and derivatives-related items, gained 22 percent to P1.6 billion in July to September from P1.3 billion a year ago.

As a result, the infrastructure conglomerate reported a core profit of P5.03 billion in January to September up 27 percent from P3.95 billion last year.

“All our businesses achieved strong growth in profitability for the first nine months of the year. We are well placed for a strong 2012 as a whole,” said MPIC president and CEO Jose Ma. Lim.

“The strong results for the nine months to September reflect significant service level improvements and efficiency gains for all our operating companies,” said MPIC chairman Manuel V. Pangilinan.

Pangilinan said the company is maintaining its full-year core earnings outlook at P6.3 billion, which is 23 percent higher from P5.1 billion last year, as MPIC expects to book P1.3 billion in earnings in the fourth quarter.

In the nine-month period, MPIC’s reported net income surged 45 percent to P4.99 billion from P3.44 billion a year ago.

Consolidated revenues rose 28 percent to P20.54 billion from P16.06 billion.

“The rise in core income is mainly due to higher profit contributions from Manila Electric Co. reflecting increased volumes of power sold,” MPIC said.

Higher billed volumes were also recorded for Maynilad Water Services Inc. while Metro Pacific Tollways Corp. (MPTC) enjoyed increased traffic growth and interest and expense savings.

MPIC said the hospital group, the country’s largest private chain composed of six hospitals, benefited from investments last year.

The infrastructure firm is training its eyes overseas given its current expertise.

http://www.philstar.com/Article.aspx?articleId=867828&publicationSubCategoryId=66

Friday, November 2, 2012

Stock News 2012: Aboitiz Equity nets P18 billion

English: A logo for the Union Bank of the Philippines (Photo credit: Wikipedia)

Aboitiz Equity Ventures, Inc. (AEV) posted a net income of P18 billion in the first nine months of the year, up 12 percent from P16 billion, mainly due to non-recurring gains and higher contributions from its power unit.

In a disclosure to the Philippine Stock Exchange, AEV said it booked a non-recurring gain of P894 million during the period as a result of the revaluation of groupwide dollar-denominated liabilities and placements.

Power continued to be AEV’s main income driver, accounting for 78 percent of total earnings followed by the banking and food businesses with contributions of 17 percent and five percent, respectively.

In the third quarter alone, AEV chalked up a net income of P6.2 billion or an increase of seven percent from P5.8 billion.

Unit Aboitiz Power Corp. reported a net profit of P18.4 billion, 13 percent higher than the year earlier level.

Higher average selling prices and increased net generation resulted to a 12-percent hike in the power generation business’ earnings contribution to P13.2 billion.

AboitizPower sold 1,562 megawatts, up 12 percent due to increased capacity sales through bilateral contracts.

Expansions in volumes and margins resulted to a 25-percent rise in AboitizPower’s distribution group’s earnings to P1.7 billion. Total attributable electricity sales went up by six percent to 2,935 GWh as demand from all customer segments continued to grow with the industrial segment recording a seven-percent hike in volume sales.

The banking group contributed P3.1 billion to AEV’s total earnings, an improvement of 15 percent.

Union Bank of the Philippines chipped in P2.8 billion in earnings or an increase of 19 percent due to higher net interest income and hefty trading gains.

AEV’s non-listed thrift bank, City Savings Bank, Inc., however, reported a 12 percent drop in profit to P318 million, weighed down by higher expenses as a result of its ongoing expansion.

On the other hand, the company’s food unit, Pilmico Foods Corp. posted net earnings of P906 million, down from P937 million due to decreasing margins resulting from softer prices and an uptick in input costs for the feeds and swine divisions.

As of September 30, 2012, AEV’s total assets stood at P211 billion as against liabilities of P106.3 billion.

The company earlier approved a proposal to acquire 100 percent of affiliate Aboitiz Land, Inc. for P3.2 billion. The transaction is expected to be completed this month.

AboitizLand is a wholly-owned subsidiary of Aboitiz and Company, Inc., and has been operating for close to two decades. It is one of the country’s most trusted Cebu real-estate developer with investments in residential, commercial, and industrial developments. Currently, AboitizLand is also the developer and operator of two economic zones, the Mactan Economic Zone II and the West Cebu Industrial Park in Balamban, Cebu.

http://www.philstar.com/Article.aspx?articleId=865501&publicationSubCategoryId=66

Tuesday, October 30, 2012

Stock News 2012: BPI profit rises 37% to P13.2B

Philippine 100 peso bill (Photo credit: Wikipedia)

Higher interest income drove Bank of the Philippine Islands’ net income 37 percent higher to P13.2 billion in the first nine months of the year, the bank said in a disclosure to the Philippine Stock Exchange.

BPI attributed the solid performance to strong revenues, which were up 17.6 percent, coming from both net interest income and non-interest income.

Despite the prevailing low interest rate environment, net interest income was higher by 7.8 percent as the average asset base expanded by almost P50 billion or 6.4 percent.

Net interest spread was relatively flattish notwithstanding the full recognition of the non-remuneration on statutory and liquidity reserves maintained as deposits with the Bangko Sentral ng Pilipinas (BSP).

BPI also continued to fund its lending growth with low cost funds.

Non-interest income was 34 percent higher, mainly driven by higher securities trading gain.

Other income and fees and commissions also posted increases.

Operating expense went up a manageable 4.8 percent, with increments mainly on premises and technology related costs as well as other operating expenses.

Impairment losses were up 54 percent as provisions were set up for the strengthening of the actuarial reserves for the pre-need subsidiary.

For the third quarter, impairment losses were 1.2 times the previous year. Revenues were, however, up five percent, thereby resulting in a nine percent improvement in net income to P3.8 billion.

Loans reached P475 billion as the growth rate of 18 percent was sustained through the third quarter. Corporate and consumer loans continued with their double-digit momentum with 18 percent and 16 percent, respectively, on a year on year basis.

Asset quality as reflected in the net 30-day NPL ratio improved to 1.7 percent from last year’s 2.3 percent, with reserve coverage at 137.9 percent.

Deposits reached P697 billion or a 12 percent increase from last year. In addition, assets under management increased 15 percent to P760 billion.

At end-September, BPI’s market capitalization stood at P284 billion, the highest among domestic banks.

“Normalizing the impact of the opportunistic recognition of securities trading gains, BPI’s adjusted return on equity and return on assets as of September 2012 would be 16.9 percent and 1.9 percent, respectively,” BPI president and CEO Aurelio R. Montinola III said.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=865169

Saturday, July 28, 2012

Stock News 2012: Philex profit falls 37% on lower gold output

Philex Open Pit Mine (Photo credit: Storm Crypt)
Based on a financial report submitted to the Philippine Stock Exchange, Philex said consolidated core net income dipped 26 percent to P2.11 billion as operating revenues slid to P7.1 billion from P7.74 billion.

Philex produced 58,681 ounces of gold, down 19 percent from the previous level’s 72,784 ounces. Copper production, on the other hand, remained steady at 18.34 million pounds or slightly down from 18.66 million pounds a year earlier.

The company’s hedging strategy mitigated the downward effect of softening metal prices with realized gold prices for the period of $1,618 per ounce and copper prices at $4.05 per pound.

Cost and expenses likewise went up 17 percent to P4.05 billion owing to increased power rates.

Philex chairman Manuel V. Pangilinan, however, said he expects conditions to improve in the second half, noting that the company has seen some recovery in grade and total output beginning June.

“We expect gold production volume to be better this second half, but will nonetheless be slightly lower in volume terms compared with last year. Copper volume should be maintained at levels with that of last year,” he said.

Revenues from its petroleum business sharply fell to P57.8 million from P328.9 million a year earlier, owing to lower income by Forum Energy Plc from the Galoc oil field, which temporarily suspended production from its operations off Palawan from November 2011 to March 2012 to allow upgrading of its floating production, storage and offloading vessel.

Forum Energy is 60.5-percent controlled by Philex Petroleum Corp.

http://www.philstar.com/Article.aspx?articleId=831539&publicationSubCategoryId=66

Monday, June 18, 2012

Stock News 2012: Vista Land declares special cash dividend

Publicly-listed Vista Land and Lifescapes, Inc., the country’s largest homebuilder, has declared a special cash dividend in the amount of four centavos per share.

Shortly after Vista Land’s annual stockholder’s meeting on June 15, 2012, the company’s Board of Directors held an organizational meeting during which it approved the declaration of a special cash dividend in an amount equal to approximately 10% of the company’s consolidated net income for the year ended Dec. 31, 2011.

The record date for the special dividend is on July 2, 2012, while the payment date will be on July 26, 2012.

Vista Land recently reported its first quarter results, announcing that the company’s net income for the first quarter of the year compared to the first quarter of 2011 rose by 22 percent to P1.060 billion from P873 million, while revenues exceeded P4 billion.

“In view of Vista Land’s excellent performance and strongly positive outlook, we are pleased to once again reward our loyal shareholders with a special cash dividend as we had done last year,” stated Manuel Paolo Villar, Vista Land’s president and chief executive officer. “This of course will be over and above the company’s regular cash dividend, which is usually formally approved during the second half of the year,” he added.

http://www.philstar.com/Article.aspx?articleId=818240&publicationSubCategoryId=66

Sunday, May 20, 2012

Stock News 2012: MPTC earnings up 37% to P549M in Q1

Aerial View of Balintawak Toll Barrier, NLEx (Photo credit: Wikipedia)
Metro Pacific Tollways Corp. said its first quarter net earnings went up 37 percent to P549 million, fueled by increased toll revenues, lower financing costs and reduced provisions for probable losses on input value-added tax.

In its financial report submitted to securities regulators, MPTC said net toll revenues rose four percent to P1.67 billion, mainly due to the record-high traffic volume in the first quarter this year. Despite the increase in fuel prices, traffic volume was maintained due to the continuous efforts to make the North Luzon Expressway (NLEX) a better and safer travel route than alternative free roads.

Sales of trasnponders and magnetic cards declined 85 percent due to the outsourcing of the supply, sales and marketing of tarnsponders to Easytrip Services Corp.

Cost of services likewise went up four percent due to higher operator’s fees brought by the increase in parameters used in the escalation formula and increase in additional services rendered by Toll Management Corp. (TMC).

Operator’s fee increased nine percent to P375 million while repairs and maintenance decreased 36 percent to P21 million.

Equity in net earnings of affiliate TMC rose 21 percent to P52 million, driven by the increase in revenues from additional services rendered to Manila North Tollways Corp., Bases Conversion Development Authority and subcontractors.

MPTC earlier said it was eyeing revenues of more than P7 billion. MNTC holds the concession to operate and maintain NLEX and is owned 67.1 percent by MPTC.

TMC operates the NLEX for MNTC.

http://www.philstar.com/Article.aspx?articleId=808341&publicationSubCategoryId=66

Friday, May 18, 2012

Stock News 2012: First Gen looks to triple profit

Inauguration of the new Yerevan natural gas-fired thermal power plant Հայերեն: Նախագահ Սերժ Սարգսյանը ապրիլի 21-ին ներկա է գտնվել Երեւանի համակցված շոգեգազային ցիկլով էլեկտրակայանի բացման արարողությանը: (Photo credit: Wikipedia)
First Gen Corp., the power generation firm of the Lopez Group, is looking at a three-fold growth in profit this year, driven by higher electricity sales from its subsidiaries.

The energy firm is ready to invest in new projects and expand its ownership in existing units, its top executives said.

“We are already in triple-digit growth...I think this year we will be able to continue that momentum,” said First Gen president and chief operating officer Francis Giles B. Puno.

For the first quarter alone, the company already posted a 171-percent jump in profit to $52.1 million from $19.2 million a year ago.

Puno added that the company is targeting to triple its earnings this year, from $35 million last year.

“Analysts’ consensus is around $110 million [in net income],” First Gen executive vice-president Richard B. Tantoco said.

“That is driven by improved electricity revenues from Energy Development Corp. (EDC) and ancillary services from First Gen Hydro [Power Corp.],” Puno said.

First Gen’s net income slumped to $35 million last year from $70.2 million in the previous year amid lower income contribution from unit EDC.

Puno said that as EDC improves the operating performance of its power plants, electricity output and sales will grow.

To date, First Gen and its units have a gross generating capacity of 2,763 megawatts (MW), of which 1,500 MW is natural gas, 1,129 MW is geothermal and 134 MW is hydropower. It accounts for 18 percent of the country’s total installed power generation capacity.

Fresh funds are geared towards acquisitions, Puno said. The company has recently raised P10 billion from the sale of its perpetual preferred shares.

Specifically, Puno said the company is still interested to purchase the stake of British Gas Group in First Gas Power Corp. First Gas owns and operates the 1,000-MW Santa Rita combined-cycle natural gas-fired power plant and the 500-MW San Lorenzo natural gas power plant, both in Batangas.

For new projects, Puno said First Gen is ready to spend P16 billion for 91 MW of new generating capacity through wind and hydropower projects.

In the first quarter, First Gen’s consolidated revenues climbed 23.1 percent to $390.6 million from $317.3 million due to improved share in net earnings of its affiliates.

http://www.philstar.com/Article.aspx?articleId=807660&publicationSubCategoryId=66

Wednesday, May 16, 2012

Stock News 2012: Vista Land's Q1 income up 22% to P1.06 billion

Villar-led homebuilder Vista Land & Lifescapes Inc. said its first quarter net income grew 22 percent this year to P1.06 billion, fueled by pent-up demand in the residential market.

In a briefing yesterday, Vista Land chief financial officer Ricardo B. Tan Jr. said sales activity remained brisk with the continued low interest rates and steady remittance inflows from Filipinos working overseas.

Revenues rose 23 percent to P4.02 billion as reservation sales surged 52 percent to P10.14 billion. Subsidiaries Camella and Communities Philippines, which develop residential communities for the low and affordable segment, accounted for a combined 67 percent of Vista Land’s total revenues.

“The company’s performance for the first quarter was slightly better than expected. We are off to a good start and are on track to achieve our full year targets for 2012, “ Tan said.

Tan earlier said the company was looking to end the year with a 20 percent growth in earnings and revenues to around P4.2 billion and P16 billion, respectively.

“The market has been pretty resilient. While competition has been intensifying from other players, we feel that we have the advantage over them. We know the market better than anyone else,” Tan said.

Manuel Paolo Villar, president and chief executive officer of Vista Land, said the company has not seen any negative effects from the problems besetting Europe as it continued to attract OFWs.

“Camella continues to dominate the housing market nationwide, and as we execute our strategy of aggressively expanding in the provinces, our position as the dominant player in housing will be solidified even further,” Villar added.

The company introduced nine major subdivision projects during the period under review worth around P5 billion, Tan said.

Stock News 2012: JG Summit profit soars 77% to P4.91 billion

Universal Robina (Photo credit: Wikipedia)
JG Summit Holdings Inc., the investment vehicle of taipan John Gokongwei, said its net earnings grew 76.7 percent in the first quarter to P4.91 billion, boosted by a dividend income from its investment in Philippine Long Distance Telephone Co. (PLDT) as well as higher mark-to-market gains.

Consolidated revenues went up 13.9 percent to P33.48 billion, mainly driven by the strong performance across all business units, the company said in a statement.

The food business contributed P18.2 billion to total revenues, up from P16.74 billion. The airline business, through Cebu Pacific, chipped in P9.34 billion while property pumped in P3.35 billion. Petrochemicals contributed P1.38 billion while banking pitched in P709.96 million.

Dividend income from its PLDT investment amounted to P1.9 billion.

Core earnings before tax increased 49.9 percent to P5.89 billion while the group’s EBITDA (earnings before interest, taxes, depreciation and amortization) was flat at P6.48 billion.

Equity in net earnings of associates amounted to P499.76 million, down 5.6 percent from the previous level due to reduced income from the group’s investment in UIC Ltd.

Consolidated cost of sales and services climbed 17 percent P23.77 billion due to higher aviation fuel expenses incurred by its airline business.

However, the company booked P680.28 million in gains from its investment in the capital market, 51.9 percent higher than the previous level.

Food manufacturing arm Universal Robina Corp. reported a 36.5 percent growth in net income for the first half of its fiscal year ending September to P4.48 billion. Net sales improved 6.6 percent to P35.487 billion.

URC’s branded consumer foods (BCF) segment, including the packaging division, registered sales of P28.029 billion, up 13.1 percent. Of the total, the domestic foods business grew faster at 13.7 percent to P16.59 billion, largely driven by the be-verage division which jumped 41.5 percent on account of strong sales acceptance for its new product, Great Taste White Coffee.

For the snack foods division, snacks and biscuits exhibited double-digit growth.

http://www.philstar.com/Article.aspx?articleId=807650&publicationSubCategoryId=66

Tuesday, May 15, 2012

Stock News 2012: GT Capital's Q1 profit soars 50%

Extract from the text of the original document: "figure shows the fraction of gross domestic product (GDP) devoted to health care in a number of developed countries in 2006. According to the Organization for Economic Cooperation and Development (OECD), the United States spent 15.3 percent of its GDP on health care in 2006. The next highest country was Switzerland, with 11.3 percent. In most other high-income countries, the share was less than 10 percent." (Photo credit: Wikipedia)
GT Capital Holdings, the investment vehicle for the various business interests of the Ty family, has reported a 50.5 percent increase in its net earnings for the first three months of 2012 to P1.3 billion, spurred by growth across all component companies.

In a statement, GT Capital president Carmelo ML. Bautista said the strong growth performance mirrors the consumption-driven growth of the domestic economy.

“GT Capital’s component companies are already market leaders in their respective sectors and therefore have the strategic advantage with gross domestic product (GDP) growth expected at five percent or better,” he said.

Real estate unit Federal Land Inc. showed major improvement in its sales revenue as net income grew to P110 million, up 123 percent compared to last year.

Despite the strong Japanese yen, vehicle manufacturing arm Toyota Motors Philippines increased its sales by seven percent, boosting its market share to 38 percent, with a net income of P673 million as of end-March.

Top leader Metropolitan Bank & Trust Co. (Metrobank) reported a 40-percent income growth versus the same period last year to P4.3 billion attributed to the higher than expected growth of its loan book by 18 percent, and higher earnings across its core lending, treasury and investment and fee-based business.

Insurance unit AXA Philippines’ net income grew 25 percent for the first three months of 2012 to P164 million.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=807317

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Tuesday, June 4, 2013

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