Food, ground-handling businesses drive up MacroAsia earnings

INQUIRER FILE PHOTO

MANILA, Philippines — MacroAsia Corp. served more in-flight meals and had stable ground-handling operations in the first quarter, allowing it to register 21-percent growth in net income.

In its latest financial disclosure, the aviation support company reported that its net income attributable had grown to P313.9 million in the first quarter from P259.9 million last year.

Total revenues were up 6 percent to P2.35 billion for the period.

The top-line figures were mostly in-flight and other catering revenues, which rose by 9 percent to P1.15 billion.

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The listed company served 6.25 million meals in January to March, up 13 percent from 5.53 million the previous year.

Ground-handling and aviation service revenues improved by 2 percent to P1.02 billion, accounting for 43 percent of the total earnings.

The total number of flights handled for the period, however, dipped to 47,546 from 48,085.

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