The Zobel family’s Ayala group said net income from January to March this year climbed 31 percent to P10.2 billion as revenues grew 19.7 percent to nearly P80 billion.
Ayala’s performance was driven by Bank of the Philippine Islands, Ayala Land Inc., ACEN and Globe Telecom.
https://business.inquirer.net/396824/bpi-net-income-surged-52-to-p12-1b-in-q1
Core earnings from January to March grew 61 percent to P9.4 billion, which was above the prepandemic figure.
“One of our priorities is to end 2023 with profits above pre-COVID levels. Given our first quarter results, our constructive outlook for the year remains intact,” Ayala president and CEO Cezar Consing said in a statement.
SM Investments’ first quarter profit expanded by 33 percent to P17.3 billion while revenues added 21 percent to P138.2 billion.
SM Investments owns SM Prime Holdings, BDO Unibank Inc., China Banking Corp., SM supermarkets and portfolio investments such as Philippine Geothermal Production Co., operator of the Tiwi and Mak-Ban steam fields, which have a combined capacity of 300 megawatts.
https://business.inquirer.net/396469/bdo-q1-profit-up-41-to-p16-5b
Banking accounted for 47 percent of reported net earnings from SM’s core businesses, followed by property at 26 percent, retail at 17 percent and portfolio investments at 10 percent.
SM also underscored the strength of its retail business despite the steep rise in consumer prices.
SM Retail’s first quarter net income jumped 51 percent to P3.9 billion whole revenues increased 22 percent to P91.2 billion
“This year has started well, continuing the strong momentum of 2022. We are well-positioned for continued growth and prepared for any macroeconomic uncertainties,” SM Investments CEO and president Frederic DyBuncio said in a statement on Wednesday.
“Meanwhile, the whole group is pushing ahead with regional expansion plans to serve more Filipinos,” he added.
Cosco, owned by tycoon Lucio Co, said first quarter net income rose 14 percent to P3.1 billion while revenues reached P47.5 billion, up 16 percent.
Cosco owns supermarket operator Puregold Price Club, liquor imports giant The Keepers Holdings, Office Warehouse and commercial property projects mainly in Metro Manila and other parts of Luzon.
https://business.inquirer.net/396548/cosco-capital-2022-profit-up-17-to-p12-3b
“The group continued to benefit from the economic recovery amidst the prevailing macroeconomic challenges by way of higher revenue growth across all its business segments which indicates the recovering consumer demand,” Cosco said in the filing.
The Consunji family’s DMCI Holdings said net income from January to March this year fell 32 percent to P7.6 billion while revenues went down 25 percent to P43.8 billion.
This was mainly due to lower coal prices and volume and rising real estate cancellations.
“We anticipate some earnings slowdown this year since we’re coming off a very high base. Our construction and real estate businesses are also still recovering from the impacts of the pandemic,” said DMCI Holdings chair and president Isidro Consunji said in a stock exchange filing on Wednesday.
https://business.inquirer.net/389890/coal-windfall-boosts-dmci-earnings-to-record-high
DMCI portfolio includes Semirara Mining and Power, Maynilad Water Services and DMCI Homes. INQ