Quantcast
Article Index |Advertise | Mobile | RSS | Wireless | Newsletter | Archive | Corrections | Syndication | Contact us | About Us| Services
 
Tue, Jul 29, 2014 12:41 PM Philippines      25įC to 33įC
  HOME       NEWS     SPORTS     SHOWBIZ AND STYLE      TECHNOLOGY     BUSINESS     OPINION      GLOBAL NATION    SERVICES
Advertisement
Inquirer Mobile
Property Guide

INQUIRER ALERT
Get the free INQUIRER newsletter
Enter your email address:

 
Money / Top Stories Type Size: (+) (-)
You are here: Home > Business > Money > Top Stories

  ARTICLE SERVICES      
     Reprint this article     Print this article  
    Send Feedback  
    Post a comment   Share  

  RELATED STORIES  




imns


Aboitiz Power Q1 net profit surges 143 percent


Thomson Financial
First Posted 15:46:00 04/28/2008

Filed Under: Stock Activity, Company Information, Earnings, Electricity Production & Distribution

MANILA, Philippines -- Electricity producer Aboitiz Power Corp. said Monday its first-quarter net profit surged 143 percent to P1.01 billion ($24 million) on higher sales and acquisitions.

Aboitiz Power, partly owned by conglomerate Aboitiz Equity Ventures Inc., posted a 41 percent growth in revenue to P2.97 billion.

Acquisitions made in 2007, including the 360-megawatt Magat hydro power plant which was bought from the government, drove earnings higher. Power generation accounted for P584 million of group earnings.

Power distribution contributed P383 million to group earnings, up 18 percent from a year earlier.

Aboitiz Power is expected to post net profit of P3.82 billion for 2008, according to the median forecast in a Thomson Financial poll of five analysts. Net profit in 2007 more than doubled to P4.1 billion.

Shares in Aboitiz Power closed 1.0 percent lower at P4.95 on Monday ahead of the results.

The stock has fallen 6.6 percent so far this year, outperforming the main index which has shed 24 percent due to continued selling of emerging market assets amid a bleak outlook for the global economy.

($1 = P42.10)



Copyright 2014 Thomson Financial. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.



Share

RELATED STORIES:

OTHER STORIES:



  ^ Back to top

© Copyright 2001-2014 INQUIRER.net, An INQUIRER Company

The INQUIRER Network: HOME | NEWS | SPORTS | SHOWBIZ & STYLE | TECHNOLOGY | BUSINESS | OPINION | GLOBAL NATION | Site Map
Services: Advertise | Buy Content | Wireless | Newsletter | Low Graphics | Search / Archive | Article Index | Contact us
The INQUIRER Company: About the Inquirer | User Agreement | Link Policy | Privacy Policy

Advertisement
Federal land
Jobmarket Online
Inquirer VDO
BizLinq