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Thursday, August 05, 2021

MPIC core net income rises 17% to P14.1B

METRO Pacific Investments Corp. (MPIC) reported a 17 percent rise in consolidated core net income to P14.1 billion for 2017 from P12.1 billion in 2016 on the strength of its increased presence in the power industry.

Core net income was lifted by an expanded power portfolio following further investment in Beacon Electric Asset Holdings Inc.; robust traffic growth on all roads held by Metro Pacific Tollways Corp. (MPTC); and continuing growth in the Hospital Group.

In terms of contribution to the company’s net operating income: power accounted for P9.4 billion or 52 percent of the aggregate contribution; tollroads contributed P3.9 billion or 22 percent of the total; water contributed P3.7 billion or 21 percent; Hospital Group provided P685 million or four percent of the total; and the Rail, Logistics and Systems Group delivered P150 million or one percent of the total. (PR)
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