SGP reports 34% increase in operation services revenues
Synergy Grid and Development Philippines Inc. (SGP) booked a 33.89 percent jump in its operation services revenues in the first nine months of the year to P48.67 billion from P36.35 billion for the similar period last year.
The company attributed the growth to higher new interim maximum annual revenue (iMAR) for 2020 approved by the Energy Regulatory Commission and the recognition of incremental new iMAR 2020 for 2020 and 2021.
SGP through the National Grid Corporation of the Philippines (NGCP), also entered into new construction contracts amounting to P30.19 billion as of the first three quarters of the year.
NGCP’s board approved a capital expenditure worth a total of P37.6 billion for the entire year.
FLI profit down 37%
Filinvest Land Inc. (FLI) recorded a 37.3 percent decline in profit to P2 billion from P3.19 billion last year.
Revenues reached P13.66 billion, up 9.54 percent from P12.47 billion in 2021.
The company said its real estate sales grew 10 percent to P8.98 billion from last year’s P8.18 billion.
Reservation sales grew 15 percent to P14 billion,
“We are pleased with the continued growth of our residential business, especially the sustained sales performance of our newly opened condominium projects in Dagupan City and Zamboanga City. Our investment to increase sales networks, locally and internationally, especially in tested markets like the Middle East and Europe, is driving improvement in reservation sales performance year on year,” said Tristan Las Marias, Filinvest Land president.
MGI exceeds pre-COVID net income
Max’s Group Inc. (MGI) reported system wide sales (SWS) generated by both company-owned and franchised stores in the nine months amounted to P12.56 billion, growing 46 percent from the same period last year and already beating full-year 2021 sales of P12.52 billion. Consolidated revenues of the Group for the first nine months of the year amounted to P7.77 billion, a 46 percent growth from P5.32 billion in the same period last year.
Year-to-date organic net income for MGI totaled P427 million, up 28 percent versus pre-pandemic 2019 and five times as compared to the same period last year.
DFNN reverses losses
DFNN Corp. said it grew its profit in the first nine months of the year to P140.43 million, reversing last year’s P120.87 million loss.
The company also said that it has posted its highest revenue in record for the period at P970.6 million, a 172.9 percent increase from P355.6 million last year.
“The group posted also continued its highest ever recorded growth in EBITDA (earnings before interest, taxes, depreciation and amortization) to P258.8 million versus a loss before interest, taxes, depreciation and amortization of P65.2 million for the same period last year,” the company said in a statement.
DFNN said revenue from share-based income out of interactive operations hit P888.9 million, up 203.8 percent.
