Lopez Holdings income up 54%
Lopez Holdings reported a 54-percent growth in net income in the first nine months to P6.1 billion, as revenue went up 9 percent to P99.8 billion.
It owns about 51 percent of First Philippine Holdings, a listed power and property company, and a 56-percent economic interest in ABS-CBN Corp.
The company gained as First Philippine Holdings and ABS-CBN recorded strong earnings during the nine-month period of 2019.
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The firm, which owns power giant First Gen Corp., said net income in the nine months to September jumped higher by 35 percent to P9.6 billion.
Revenue rose 9 percent to P99.767 billion, driven by electricity sales, which went up 10 percent.—MIGUEL R. CAMUS
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