ICTSI profit at $154.61M
International Container Terminal Services Inc. said it grew its first quarter profit by 9 percent to $154.61 million from $141.84 million last year. Revenues grew 8 percent to $572.25 million from P529.86 million.
ICTSI said it facilitated 3.1 million twenty-equivalent unit (TEU) containers for the period, up 9 percent from 2.83 million in 2022, the growth of which was attributed mostly to Manila North Harbour Port Inc. (MNHPI) in Manila.
Earnings before interest tax depreciation and amortization grew 5 percent to P354.2 million.
SM Prime nets P9.4B
SM Prime Holdings Inc. said it grew its profit in the fist quarter by 27 percent at P9.4 billion from P7.4 billion in 2022. Revenues grew 20 percent to P28.7 billion from P23.9 billion.
Consolidated operating income rose to P13.9 billion, 30 percent higher than last year’s P10.7 billion.
SM Prime said its mall business, accounting for 54 percent of revenues, hit P15.4 billion, up 88 percent. The residential business meanwhile posted revenues of P8.5 billion, down 29 percent.
SM Prime’s other key businesses, which include offices, hotels, and convention centers, posted revenues of P3.2 billion, up 59 percent.
JG Summit swings to profit
JG Summit Holdings Inc. said it bounced back in the first quarter of this year, posting profit of P5 billion compared to a P2.8 billion loss last year.
Revenues grew 28 percent to P82.3 billion from P64.3 billion.
The group said the rebound was due to units like Cebu Air Inc attaining its first profitable quarter since the pandemic, Robinsons Land Corp. (RLC) doubling its earnings for the period, and Universal Robina Corp. improving its operating margins.
“There were sizable increases in its equity earnings from Manila Electric Co. and its dividends from PLDT (Inc.),” the company said.
Megawide recoups loss
Megawide Construction Corp. said it bounced back to profitability last year, posting profit of P2.8 billion compared to a P893.2 million loss the prior year. Revenues hit P14.8 billion, contributed largely by the construction business and a portion from landport operations.
Megawide said its results last year benefited from exceptional gains from the divestment in GMR MEGAWIDE Cebu Airport Corp. , and one-off items related to terminated projects in the construction segment that were negatively impacted by the pandemic in 2020.
Earnings before interest, taxes, depreciation, and amortization hit P2 billion, down from P2.9 billion the prior year.
A. Brown revenues double
A. Brown Co. Inc., said profit last year grew 59.9 percent to P635.5 million compared to P397.6 million in 2021.
Revenues grew 114 percent at P1.52 billion compared to P710.3 million the prior year.
Equity in net earnings of associates were at P316.4 million, up 15.7 percent from P273.5 million in 2021.
A. Brown closed the period with a total asset of P10.01 billion. Debt to equity ratio was at 0.53x.
