Business NEWS

Tourism estate developer Global-Estate Resorts, Inc. (GERI) registered a 28 percent growth in net income to P412.2 million in the first quarter of 2022 from the P322.6 million earned in the same period last year.

Ayala Corporation, the country’s oldest conglomerate, reported a 45 percent jump in attributable net income to P7.8 billion in the first quarter of 2022 from P5.4 billion in the same period last year.

The local stock market continued to fall as the better-than-expected economic growth numbers failed to boost investor sentiment.

JG Summit Holdings, Inc. (JGS), the flagship of the Gokongwei group, reported a net loss of P2.8 billion for the first quarter of 2022 from a net income of P526.52 million in the same period last year.

Ayala Land Inc. (ALI) reported a 14 percent improvement in net income to P3.2 billion in the first quarter of 2022 from P2.78 billion in the same period last year, supported by continuing cost-efficiency measures amidst the pandemic.

Robinsons Land Corporation, one of the country’s leading developers, is allotting P25.5 billion for capital expenditures this year, about the same amount it spent in 2021, as it gears up for a recovery in the economy.

Holcim Philippines, the country’s largest cement producer, reported a 54 percent fall in net income to P420 million in the first quarter of 2022 from the P909 million earned in the same period last year.

Real estate giant Ayala Land Inc. is planning to raise up to P33 billion from a planned bond issuance of P22 billion with an oversubscription option of up to P11.0 billion.

GT Capital Holdings, Inc., the holding company of the family of Dr. George S.K. Ty, announced the appointment of Francisco C. Sebastian as chairman of the company’s Board of Directors as former Chairman Arthur V. Ty takes the back seat as director in a move to further professionalize the conglomerate’s operation.

Jollibee Foods Corporation (JFC), one of the largest Asian food service companies, reported a 1,412 percent surge in attributable net income to P2.3 billion in the first quarter of 2022 from P152.6 million in the sae period last year.

Local share prices continued to fall amid uncertainties after Monday’s polls.

Food manufacturer Monde Nissin Corporation reported that its net income dipped 0.9 percent to P2.3 billion in the first quarter of 2022 while core attributable net income dropped 13.5 percent to P2.1 billion.

Robinsons Land Corporation (RLC), a leading diversified real estate company in the Philippines, reported a net income of P1.74 billion for the first quarter of 2022 from P2.9 billion in the same period last year.

SM Investments Corporation, the flagship of the Sy family, posted a 27 percent growth in consolidated net income to P12 billion in the first quarter of 2022 from P9.5 billion in the same period last year.

Diversified engineering conglomerate DMCI Holdings, Inc. reported a 165 percent surge in first quarter earnings from P4.3 billion in 2021 to this year’s P11.3 billion, its highest ever for any given quarter.

Bloomberry Resorts Corporation (BLOOM), the gaming firm of the country’s second richest man Enrique Razon Jr., is investing in the delayed Mactan and Clark casino project of Dennis A. Uy’s PH Resorts Group Holdings Inc. (PHR).

The local stock market ended lower after the elections, although it managed to recover from a much steeper drop in the morning.

Cosco Capital, Inc., the listed retail holding firm of Lucio L. Co, reported a 5 percent improvement in consolidated net income to P10.5 billion last year from P10 billion in 2020.