Phinma nets P144.3M in 1st quarter
By Doris C. Dumlao
Philippine Investment Management Corp. grew its attributable net profit by nearly five times to P144.3 million in the first quarter from a year ago on improved operations of all business units.
Philippine Investment Management Corp. grew its attributable net profit by nearly five times to P144.3 million in the first quarter from a year ago on improved operations of all business units.
Metropolitan Bank and Trust Co. tripled its profit in the first three months of the year from year-ago level to P11.4 billion. It was the highest quarterly profit recorded by a local bank.
Sugar producer Roxas Holdings Inc. grew its net profit in the six-month period ending March by 36 percent year-on-year to P205 million on better gross profit margin, lower operating expenses and lower debt burden.
Puregold Price Club doubled its net profit in the first quarter of 2013 compared with that of a year ago as sales grew alongside the expansion of its store network while margins improved despite stiff competition.
Aboitiz-led Union Bank of the Philippines grew its first-quarter net profit by 40.8 percent year on year to P4 billion, the best quarterly bottom line in its history, mainly due to the double-digit expansion in trading gains and interest earnings.
The Rebisco group’s banking arm Asia United Bank grew its first-quarter net profit by 62 percent year on year to P523 million on higher loan volume and trading gains.
Laguna-based semiconductor manufacturer Cirtek Holdings Philippines Corp. grew its first-quarter profit by 19 percent to $960,000 on improved margins and higher sales growth.
Leisure estate and gaming firm Belle Corp.’s first-quarter net profit soared by nearly 15 times year on year as it started collecting rental income from Macau casino operator Melco Crown ahead of the 2014 opening of its integrated casino project in Pagcor City.
Philippine Savings Bank, the thrift bank arm of the Metrobank group, generated a record-high net profit of P2 billion in the first quarter as hefty trading gains complemented core interest earnings.
The group of William Gatchalian wants Philippine National Construction Corp. (PNCC) to keep its share of the profit from major toll roads instead of remitting the bulk of the amount to the government.
GMA Network Inc. is banking on regular advertisements to drive profit growth for 2013 even as campaign-related placements start to trickle in, providing a welcome boost to revenues.
Listed firm Alsons Consolidated Resources Inc. (ACR) of the Alcantara Group on Friday said it had posted a 6-percent revenue growth to P3.07 billion in 2012 from P2.91 billion in 2011 on higher sales of power and water utilities in the Lima Technology Center in Batangas.
