First Holdings nets P5.8B
First Philippine Holdings Inc. said profit for the first half of the year reached P5.8 billion, up 16 percent from P5 billion last year.
Revenues totalled P60.5 billion, up 12 percent from last year’s P53.8 billion.
The Lopez-led holding firm said the growth for the period reflects “the notable growth in recurring earnings of the operating subsidiaries as the group benefited from the easing of community quarantine restrictions compared to the same period last year and the reopening of the economy.”
Sales in electricity of its units hit P50.9 billion, up 7 percent from P47.7 billion last year. Power-related businesses comprise the bulk of the group’s businesses, contributing 84 percent of topline.
“The increase was mainly due to higher revenues from the Avion gas plant, Pantabangan-Masiway hydro power plant, Burgos Wind, and Bacman geothermal plant, partly tempered by the lower average dollar to peso exchange rate used in translating the $ revenues of First Gen Corp.,” First Holdings said.
Macroasia widens losses
Macroasia Corp., said it posted a P632.55 million loss in the first half of the year, up 22.08 percent from last year’s P518.13 million.
The resulys comprise of P284.36 million net loss in the first quarter and P348.19 million net loss in the second quarter, mainly driven by airline- related revenue downturn of key business units in the airports.
Revenues reached P875.91 million, down 45.93 percent from P1.62 billion last year.
Macroasia said revenues from its in-flight and other catering businesses posted a revenue of P252.73 million, down 65 percent from P723.95 million last year.
Revenues from ground-handling and aviation services posted revenues of P504.63 million, down 30 percent from P725.99 million last year, driven largely by flight volume reduction in the airports.
Macroasia said flights it handled declined by 35 percent) to 32,253, from 49,383 in 2020.
The water business posted a revenue of P96.8 million, down 31 percent from P139.8 million last year.
Billed water volume declined to 3.1 million cubic meter (cu.m.) compared to 3.5 million cu.m. last year.
AllHome income up 133%
AllHome Corp. registered profit of P641 million in the first half of the year, up 133 percent from last year’s P275 million.
Sales reached P6.724 billion, up 39 percent from P4.85 billion last year.
The company attributed the growth to its “ability to adapt to the current COVID-19 pandemic and address the shopping behavior of its valued clients” that included operational efficiency, recalibration of merchandise mix and strategic pricing
The company will be introducing the new generation of AllHome Stores soon.
In the second quarter alone, profit reached P297 million, up 54 times from P5 million last year. Sales amounted to P3.132 billion, up 110 percent P1.489 billion last year.
PT&T losses balloon to P26.6M
Philippine Telegraph & Telephone Corp. (PT&T) reported a net loss of P26.6 million in the first half this year as the impact of pandemic took a toll on its enterprise business segment.
In its latest disclosure, PT&T said its net loss was higher by 36 percent compared to P19.5 million net loss generated a year ago
Revenues, however, grew by seven percent versus last year mainly driven by modest increase in its subscriber base by 15 percent and an eight percent revenue contribution from its IT Services portfolio.
PT&T said the momentum on revenue growth should improve within the year, due in part to the rising rate of daily vaccination in the country.
CIC swings to profit
Concepcion Industrial Corp. posted profit of P196.6 million in the first half of the year, a reversal from a P35.05 million loss last year.
Sales reached P6.44 billion, up 45 percent from P4.44 billion last year.
The company said it benefited from “improving market conditions and the impact of the low-base effect from the comparative period in 2020.”
“The positive results also reflect the impact of our strategic investments and the cost restructuring programs we implemented. Challenges remain from the continuing COVID-19 pandemic, the slow vaccination campaigns, and the surges which lead to more enhanced community quarantine (ECQ) lockdowns. Additional headwinds come from high commodity prices and container van shortages,” said Raul Joseph Concepcion, Concepcion Industrial chairman.
Axelum revenues up 30%
Axelum Resources Corp. said its profit rose 57 percent in the first half of the year to P318.42 million from last year’s P202.94 million.
Revenues reached P3.1 billion, up 30 percent from P2.39 billion last year, primarily driven by “robust volume growth across all core product segments.”
“In terms of volumes, desiccated coconut grew 24 percent, while sweetened coconut, coconut milk powder and coconut water, increased 34 percent, 11 percent and 23 percent, respectively,” the company said.
Axelum said it has “consistently produced record monthly output for its desiccated coconut, coconut water and coconut milk powder segments, keeping on-track to exceed last year’s total volume.”
Axelum continuous to ramp up production of its premium-priced high-margin product variants targeted for export markets.
Max’s Group sales rise in Q2
Max’s Group Inc. (MGI) posted second quarter systemwide sales (SWS) of P2.91 billion and revenues of P1.78 billion, an increase of 82 percent and 67 percent, respectively, versus the same period in 2020.
For the total first half of 2021, MGI recorded total SWS of P5.75 billion, a 3 percent increase versus the P5.59 billion performance of 2020. Revenues dropped 4 percent to P3.62 billion, as compared to the P3.79 billion reported in the first half of 2020.
Full six-month operating income ended at P332 million, an P827M swing from 2020’s operating loss of P495 million. Earnings before interest, taxes, depreciation and amortization swung to P1 billion from the negative P45 million reported for the same period last year. This yielded net income of P392 million, representing a P995 million rally versus 2020’s P603 million first-half loss.
