PAL poised to soar to profitability
By Paolo G. Montecillo
Flag carrier Philippine Airlines (PAL) is poised to soar to greater heights starting next year as it takes delivery of new planes—more than doubling the size of its current fleet.
Flag carrier Philippine Airlines (PAL) is poised to soar to greater heights starting next year as it takes delivery of new planes—more than doubling the size of its current fleet.
Citigroup is bullish on the Philippine gaming industry, which is seen to triple to $3 billion in terms of gross gaming revenues by 2015 once the Entertainment City along Manila Bay is completed to create a cluster effect similar to that in Macau.
Laguna-based semiconductor manufacturer Cirtek Holdings Philippines Corp. expects a 10-15 percent growth in both sales and net profit this year as overall business is seen picking up at a faster pace in the second semester.
Infrastructure holding firm Metro Pacific Investments Corp. has upgraded its core net profit guidance for the year to P6.3 billion from P6 billion to factor in strong first-semester results.
The profitability of local banks is seen further improving in the next quarters as they generate more interest earnings from the extension of loans for big-ticket, public infrastructure projects.
Philippine Long Distance Telephone Co.’s core net income in the first half of 2012 is expected to be lower than that in the previous year, company chairman Manuel V. Pangilinan said.
Broadcast giant GMA Network Inc. is confident of growing its profit back to record levels—despite falling behind in the first quarter of the year— as advertising revenues start to pick up.
Consunji-led DMCI Holdings Inc. expects to grow its net profit by 10 percent this year as the start of operations of the Calaca power plant and better construction and property businesses may offset the impact of softer coal prices.
Local telecommunications giant Philippine Long Distance Telephone Co. sees its second-quarter performance on track with the company’s full-year 2012 core net income guidance of P37 billion.
The Philippine economy’s surprise 6.4-percent growth in the first quarter, bucking the uncertainties spawned by the eurozone’s debt woes, seems to signal the start of positive things to come. Stock traders say robust corporate earnings may even join the parade.
The Bangko Sentral ng Pilipinas said the country’s export revenues could grow by a faster pace in the months ahead on the back of a modest pick-up in global demand.
Property tycoon Andrew Tan’s integrated tourism arm, Global-Estate Resorts Inc. (GERI), is confident of meeting its net income goal of P264 million for this year given the bright prospects of the Philippine tourism sector.
