MANILA, Philippines -- Metro Pacific Investments Corp. swung to profit in 2007, aided mainly by the improved performance of its water and real estate businesses.

Metro Pacific posted a net profit of P167.9 million for 2007 against a net loss of P685.9 million in the previous year.

Maynilad Water Services Inc., partly owned by Metro Pacific, recorded a 25-percent increase in full-year net profit to P1.25 billion.

Maynilad recently exited from a court-administered rehabilitation program.

Landco Pacific Corp., its property development unit, also swung to a full-year net profit of P261.2 million against net loss of P12.9 million in 2006.

Metro Pacific also owns and operates Makati Medical Center through unit Medical Doctors Inc., which recorded a 20-percent increase in its 2007 net profit to P268.5 million. Makati Medical Center is one of the country's premier hospitals.

"Now that Metro Pacific is once again profitable, the focus of the company can be redirected towards identifying and pursuing opportunities in the areas of natural resources, infrastructure, healthcare and hotel business," said company chairman Manuel Pangilinan.

"Growth in our investment portfolio, as well as in contributions from Maynilad, Landco, and Makati Medical should raise Metro Pacific's core net income in 2008 compared with 2007," he said, without giving any figures.

Metro Pacific is partly owned by Hong Kong-listed conglomerate First Pacific Co. Ltd. (By Enrico dela Cruz)

($1 = P41.60)