7 months Aboitiz Power income declines 5% to P8.6 billion in first semester MB |Biz
By Myrna M. Velasco Fulminating against unprecedented spikes in spot market prices especially during the summer months when it had to spend for replacement power, Aboitiz Power Corporation has announced that its reported net income in the first half had declined 5.0 percent to P8.6 billion from the previous year’s P9.1 billion. (MANILA BULLETIN) And even with logged one-off gains, the company’s core income was still down 19 percent to P8.5 billion from a heftier P10.5 billion in January to June last year. That one-off positive entry in its six-month financial performance, according to the company, came from foreign exchange ... more