METRO Pacific Investments Corp. (MIPC) on Thursday said its consolidated net income rose 17 percent to P14.1 billion, from last year’s P12.1 billion, mainly on higher revenues on power as a result of its increased investments in both power distribution and generation.
Revenues grew 11 percent to P373 billion, from P335 billion last year.
In terms of contribution to the company’s net operating income, power accounted for P9.4 billion, or half of the aggregate contribution. MPIC’s toll-roads business contributed P3.9 billion, or 22 percent, of the total while its water business, which includes distribution, production and sewerage treatment, contributed P3.7 billion, or 21 percent, of the total.
MPIC’s hospital group contributed P685 million, or 4 percent, of the total while its rail, logistics and systems group delivered P150 million, or 1 percent, of the total.
The company said it is allocating some P76.9 billion in capital expenditures this year. MPIC said the amount includes P38.9 billion for acquisitions.
“We continue with our mission to build and operate well run and needed infrastructure, offering good value for the public,” MPIC Chairman Manuel V. Pangilinan said. The hard work, dedication and focus on customer service of our many employees is reflected in improving service metrics of all our operations.”
Pangilinan added the company is “doing best to support the ‘Build, Build, Build’ agenda of the government.”
“However, our investors, many of whom are hardworking Filipino savers and pensioners, by the way, and our creditors need confidence that our various concession and franchise agreements will be observed,” he said. “We are working hard to resolve these matters. It is our hope that our partners in the government could come along with us in the spirit of partnership in which our various projects were conceived.”
Last year group-wide capital expenditure was at P38 billion and spending some P38.9 billion in new investments in power sector, and expanding into new markets, including Indonesia.
“Our earnings growth reflects significant volume increases for all our businesses, supported by years of high investment, together with our continuing emphasis on operational efficiencies,” MPIC President and CEO Jose Ma. K. Lim said.
The company said it had about P185 billion worth of unsolicited proposal to the government. The bulk of the proposal is the three projects in toll roads worth P140 billion, a total of P18 billion in water, some P15 billion in waste-to-energy projects and P12 billion for the possible operation and maintenance of the Metro Rail Transit (MRT) Line 3.
Lim said the company is not keen on bidding for the combined 22-percent stake of the Land Bank of the Philippines and Development Bank of the Philippines in MRT 3 that is being put on sale since it has a proposal to the government.
“We want that concession agreement first,” Lim said.
Revenues grew 11 percent to P373 billion, from P335 billion last year.
In terms of contribution to the company’s net operating income, power accounted for P9.4 billion, or half of the aggregate contribution. MPIC’s toll-roads business contributed P3.9 billion, or 22 percent, of the total while its water business, which includes distribution, production and sewerage treatment, contributed P3.7 billion, or 21 percent, of the total.
MPIC’s hospital group contributed P685 million, or 4 percent, of the total while its rail, logistics and systems group delivered P150 million, or 1 percent, of the total.
The company said it is allocating some P76.9 billion in capital expenditures this year. MPIC said the amount includes P38.9 billion for acquisitions.
“We continue with our mission to build and operate well run and needed infrastructure, offering good value for the public,” MPIC Chairman Manuel V. Pangilinan said. The hard work, dedication and focus on customer service of our many employees is reflected in improving service metrics of all our operations.”
Pangilinan added the company is “doing best to support the ‘Build, Build, Build’ agenda of the government.”
“However, our investors, many of whom are hardworking Filipino savers and pensioners, by the way, and our creditors need confidence that our various concession and franchise agreements will be observed,” he said. “We are working hard to resolve these matters. It is our hope that our partners in the government could come along with us in the spirit of partnership in which our various projects were conceived.”
Last year group-wide capital expenditure was at P38 billion and spending some P38.9 billion in new investments in power sector, and expanding into new markets, including Indonesia.
“Our earnings growth reflects significant volume increases for all our businesses, supported by years of high investment, together with our continuing emphasis on operational efficiencies,” MPIC President and CEO Jose Ma. K. Lim said.
The company said it had about P185 billion worth of unsolicited proposal to the government. The bulk of the proposal is the three projects in toll roads worth P140 billion, a total of P18 billion in water, some P15 billion in waste-to-energy projects and P12 billion for the possible operation and maintenance of the Metro Rail Transit (MRT) Line 3.
Lim said the company is not keen on bidding for the combined 22-percent stake of the Land Bank of the Philippines and Development Bank of the Philippines in MRT 3 that is being put on sale since it has a proposal to the government.
“We want that concession agreement first,” Lim said.
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