In the first quarter of 2024, Alsons Consolidated Resources (ACR) reported a net income of P479 million, a 13% decrease from the P542.27 million reported for the same period in 2023.
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One of Europe's leading charter and wet-lease carriers, Wamos Air, and Philippine Airlines (PAL) have reached a temporary wet-lease arrangement. The purpose of this agreement is to guarantee PAL's efficient fleet management and operational robustness throughout the upcoming high travel season. The date of this temporary agreement's implementation is June 1, 2024.
Leading Philippine manufacturer of nickel ore, Global Ferronickel Holdings, Inc. (FNI), reported P589.9 million in revenue for the first quarter of 2024, P10.6 million in net income attributable to shareholders, and P0.0021 in earnings per share (EPS).
Fruitas Holdings, Inc., the leading operator of multi-format food and beverage outlets, reported strong financial results in the first quarter of 2024. In Q12024, the company generated revenues of P640 million, a 24%, or P125 million, increase over the P515 million recorded in the same period in 2023. The company reported consolidated net income of P29.8 million in Q12024, up P11 million, or 56%, from P19.2 million in Q12023.
The Executive Committee of Ayala Corporation (Ayala) and its wholly-owned subsidiary, Michigan Holdings, Inc. (Michigan) executed with Trident Water Company Holdings, Inc. (Trident) the underlying agreements for the special block sales covering Ayala’s and Michigan’s 577,997,467 Manila Water Company (MWC) common shares.
PHINMA Corporation began 2024 with consolidated revenues of P5.45 billion in the first quarter. This is a 14% increase over the P4.78 billion recorded from January to March of the previous year, as PHN's businesses demonstrate their commitment to improving people's lives by providing basic necessities for a dignified life. PHN also recorded a consolidated net income of P490.9 million, which included a core consolidated net income of P448.29 million.
GT Capital Holdings, Inc. (GT Capital) reported a 7% increase in core net income to P7.06 billion in the first quarter of 2024 from P6.56 billion the previous year. The conglomerate's consolidated net income increased by 7% to P7.11 billion from P6.64 billion in the same period the previous year.
The 50th CityMall opening milestone is to officially make DoubleDragon move up as the 3rd largest mall developer in the Philippines this year 2024.
Bank of Commerce (BankCom), San Miguel Corporation's banking arm, successfully listed its P6.57 billion 1.5-year Series B Bonds on the Philippine Dealing & Exchange Corp. (PDEx), with the aggregate orderbook exceeding the original target issue size by 1.3 times, indicating strong demand from institutional and retail investors.
Century Properties Group, Inc. Reported P410 Million in Consolidated Net Income After Tax in Q120245/15/2024 Century Properties Group Inc. (CPG) continued its good performance in the first quarter of 2024 (Q12024), posting a consolidated net income after tax (NIAT) of P410 million, 35% higher than P302 million in the same period in 2023 (Q12023).
Focused cost control, improved inventory management, and supply chain efficiencies propelled Shell Pilipinas Corporation (SPC) to a P1.4 billion net income in the first quarter of 2024.
In the first quarter of 2024, Filinvest Development Corporation (FDC) reported a 36% increase in net income attributable to equity holders of the parent company, from P2.2 billion to P2.9 billion, compared to the same period the previous year. Consolidated net income increased by 27% to P3.7 billion. Strong contributions from the banking, power, and property businesses enabled the rise. While costs and expenses increased by 25% to P21.6 billion, total sales and other income increased by 28% to P26.4 billion.
The first Philippine Real Estate Investment Trust (REIT) and Ayala Group Arm, AREIT Inc. reported P2.11 billion in total revenues and P1.51 billion in Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA)—a 43% and 45% increase over the previous year, respectively. A 45% increase in net income from the previous year, or P1.47 billion, was recorded when the net fair value change in investment properties was taken out. 96% overall occupancy for AREIT was higher than the industry average.
San Miguel Corporation (SMC) affiliate Bank of Commerce (BankCom) reported a 17% increase in gross revenue to P2.65 billion for the first quarter of 2024 compared to the same period in 2023. This growth led to a net profit of P769.18 million as of March 31, 2024, an 8% rise from the previous year. Return on equity (ROE) was at 9.87%.
SM Prime Holdings, Inc. (SM Prime), one of the prominent integrated property developers in Southeast Asia, has announced that SM City Caloocan will officially open on Friday, May 17, 2024. This is the company’s third mall in Caloocan City and first in the northern cluster of the city, providing more than 94,000 square meters of gross floor area.
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BLOGGER Hi, I'm Ralph Gregore Masalihit! An RFP Graduate (Registered Financial Planner Institute - Philippines). A Personal Finance Advocate. An I.T. by Profession. An Investor. Business Minded. An Introvert. A Photography Enthusiast. A Travel and Personal Finance Blogger (Lakbay Diwa and Kuripot Pinoy). Currently, I'm working my way toward time and financial freedom. PLACE YOUR ADS HERE FOLLOW ME ON FACEBOOK & X Categories
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