MacroAsia sees higher sales
By Daxim Lucas
Philippine Daily Inquirer
First Posted 21:28:00 07/20/2008
MANILA, Philippines--Lucio Tan-owned Macroasia Corp. expects its revenue to rise by a third this year on the back of higher sales in its ground handling services business combined with the startup contribution of a new mining unit.
According to documents submitted to the Philippine Stock Exchange, the listed firm is projecting its group-wide revenue would rise by 34 percent in 2008 from the 2007 level.
The company's revenue last year was P1.04 billion, or 7.8 percent higher than year-ago level.
MacroAsia based its assumptions on "the current growth trend in the country's economy together with the aggressive promotion of Philippine tourism."
Revenue growth, the firm said, would come from the ground handling sector and the operation of its nickel mining unit. The company told the bourse it was expecting to "secure additional ground handling airline clients in 2008."
At present, MacroAsia provides the bulk of ground handling and catering services to Tan-owned Philippine Airlines and Air Philippines, as well as other international airlines that fly to and from the Ninoy Aquino International Airport.
To compensate for declining margins in the airline industry, the company said it would "continue to push for a more effective cost control system to further maximize profits without sacrificing the quality of its products and services."
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