Aboitiz Power Corp. recorded a 9 percent decline in core net income for the first half of the year to P9.2 billion from P10.1 billion recorded in the same period last year.
Aboitiz Power said excluding the impact of liquidated damages, business interruption claims and the effects of Typhoon Odette, its core net income would have resulted in a 15 percent growth.
Emmanuel Rubio, Aboitiz Power president and chief executive officer, said in a statement the company experienced an increase in peak demand in the Luzon and Visayas grids in the first half of the year, exceeding levels from the past three years.
He said Aboitiz Power will continue to ensure that generation plants will run optimally and that incoming capacities are ready to support the country’s growing demand for power.
