Metro Pacific Investments Corp. (MPIC) reported profits of P10.1 billion last year, up 113 percent from P4.7 billion the prior year.
Revenues grew 11 percent last year to P405.5 billion from P365.7 billion, while core profit rose 20 percent to P12.3 billion from P10.2 billion a year earlier.
“This substantial improvement from the 13 percent growth in the first half of the year was largely driven by improved traffic on its toll roads and higher volume of electricity sold by Manila Electric Company (Meralco),” the company said.
“Based on our full-year performance, it is clear that we are now reaping the value created from years of strategic investments in upgrading our infrastructure, operational systems, and overall ability to provide quality services,” said Manuel Pangilinan, MPIC chairman.
June Cheryl Cabal-Revilla, MPIC chief finance officer, said the company looks to spend P136 billion in capital expenditure this year, up from P89 billion last year, with the lion’s share allocated to its power group at P57 billion.
Metro Pacific Tollways Corp. will have P32 billion including all of its existing projects that are in progress, Maynilad Water Services Inc. at about P12 billion to P14 billion and Light Rail Transit line 1 on a stand-alone basis will have about P6 billion, the company said.
