Metro Pacific Investments Corp. (MPIC) reported revenues of P11.13 billion in the first quarter, up 4.7 percent from P10.63 billion last year.
Profit stood at P5.7 billion , down 19 percent from last year’s P7 billion.
Recurring profit was at P3.1 billion, up 23 percent from the prior year’s P2.5 billion.
“The company benefitted from continued economic recovery and intensified election-related activities in the country. Toll road traffic is now close to pre-pandemic levels, and power consumption has considerably increased as more industries ramp up operating capacity,” it said.
MPIC said about 58 percent of its results was contributed by its power business, followed by the 29 percent contribution of the tollroads business, while the water business contributed 14 percent of total, and the rest by its other businesses.
