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Lopez nets P4.2B

/ 02:23 PM April 17, 2018

Conglomerate Lopez Holdings chalked up a net profit of P4.22 billion last year, down by 36 percent in the absence of one-off gains and election season-related surge in media advertising revenues that jacked up earnings in 2016.

Energy unit First Philippine Holdings (FPH) booked a 41-percent decrease in net income to P5.85 billion. FPH reported non-recurring income in 2016 pertaining to the arbitration settlement received by First Philec and the liquidated damages collected by First Gen Corp. for its San Gabriel power plant.

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Broadcasting arm ABS-CBN, on the other hand, reported a 10-percent drop in net income to P3.16 billion in the absence of election-related advertising revenues. To recall, ABS-CBN generated more revenues in 2016 from political advertising on top of improved revenues from its Pay TV and new business initiatives.

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TAGS: ABS, ABSCBN, FPH, Lopez Holdings, LPZ
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