Owing to higher electricity sales and the uptick in oil prices, Yuchengco-led PetroEnergy Resources Corporation (PERC) has posted 31-percent income jump to P506 million in the first half this 2022 from leaner P386 million in the same period last year. “The robust financial performance was largely...
After a string of losses that stretched until January-March this year, Uy-led Phoenix Petroleum Philippines Inc. finally returned to profitability in the second quarter, posting a net income of P201 million, its highest since the strike of the coronavirus pandemic. That was effectively a reversal...
Leading oil firm Petron Corporation has doubled its consolidated net income from both Philippine and Malaysian operations to P7.7 billion in the first half of this year from a leaner P3.87 billion in the same period last year. The oil firm specified that it logged consistent rise in its sales...
The profitability of listed firm Aboitiz Power Corporation slightly declined by 2.0 percent to P10 billion in the first half this year from P10.1 billion in the same period last year. Excluding the impact of liquidated damages, business interruption claims and typhoon Odette, Aboitiz Power said the...
The Marcos administration is aiming to raise Filipinos’ average earning to around P20,000 per month in two years, an income level that would propel the Philippines towards the much coveted upper-middle income status. From the current per capita income of $3,549 or roughly P197,692 at current...
Consolidated core net income of Manila Electric Company (Meralco) inched up by 15-percent in the first half this year to P13.1 billion from P11.399 billion in the same period last year, primarily due to six percent increase in energy sales, the main profit driver of the power utility giant. The...
Senator Sonny Angara said the middle class will experience some relief next year through income tax deduction. “Yes. Next year there would be tax relief. Under the TRAIN law, there would be another income tax reduction,” Angara said during an interview at the sidelines of the 20th...
The progressive party-list group Bayan Muna has pushed the Supreme Court (SC) to act swiftly on the petition seeking to cancel the certificate of candidacy (COC) of presumptive president Ferdinand “Bongbong” Marcos Jr. Bayan Muna Party-list Rep. Carlos Zarate (Photo from Bayan Muna) “There is...
Lopez-led First Gen Corp. posted a lower net income of $59 million (P3 billion) in the first quarter this year, down by 24.36 percent from $78 billion (P3.8 billion) same period in 2021 due to gas supply problems and bad weather. Its revenues, meantime, rose by 18 percent to $570 million (P29.1...
Philippine Airlines, Inc. (PAL) returned to profitability in the first quarter of 2022, registering an operating income of $33.8 million (P1.7 billion) and net comprehensive income of $22.6 million (P1.2 billion), the flag carrier disclosed Friday, May 13. The last time that PAL registered positive...
Listed firm Pilipinas Shell Petroleum Corporation posted significant upturn in its net income in first quarter this year to P3.5 billion from a relatively lean P1.0 billion earnings in the same period last year. The rise in profit, according to the oil firm, had been mainly underpinned by uptick in...
Ayala-led ACEN Corporation income dipped 68 percent to P405 million in the first quarter this year versus P829.32 million in the same period last year, owing to higher cost in securing replacement power for its customers. The Ayala firm attributed the earnings drop to “short term headwinds” as...
