Cebu Landmasters Inc. (CLI), the leading developer in VisMin, reported an impressive 31% consolidated revenue growth to P6.257 billion in the first quarter of 2024 from P4.777 billion in the same period the previous year. Strong growth is the main cause of the uptick in all business segments of the listed company.
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The Board of Directors of Filinvest REIT Corp. (FILRT) approved the dividend declaration to all stockholders, which amounts to P0.062 for each outstanding common share. According to the closing share price on May 9, 2023, this declaration raises the year-to-date dividends to P0.129 per outstanding common share, or an annualized yield of 9.0%.
Leading finance app GCash, through its lending arm Fuse Lending, Inc., has teamed up with pioneer e-commerce platform Lazada Philippines to help support Filipino entrepreneurs by offering cash loans to eligible platform sellers to help fuel the growth of their online businesses.
Megaworld, the country's top township developer, had its net income increase to P5.0 billion in the first quarter of 2024, up 10% from the same time the previous year. The parent company's net income attributable to shareholders was P4.4 billion, an 8% increase over the previous year.
PLDT Inc. (PLDT) reported that its Gross Service Revenues increased by 5%, or P2.5 billion, to P52.2 billion, while Consolidated Service Revenues (net of interconnect expenses) increased by 3%, or P1.6 billion, to P48.7 billion in the first quarter of 2024. Data and broadband increased by 5%, or P2.0 billion, to P40.5 billion, accounting for 83% of Consolidated Service Revenue. Consolidated Service Revenues increased by 8% after adjusting for legacy revenues.
Due to lower contributions from the majority of its companies, diversified engineering conglomerate DMCI Holdings, Inc. suffered a 25% decline in its first quarter consolidated net income, from P7.5 billion to P5.6 billion.
DigiPlus Interactive Corp. (DigiPlus), the fastest-growing digital entertainment group in the country, posted a net income of P2 billion in the first quarter of the year, expanding 358 percent from a year ago. DigiPlus’ sustained profit momentum was fueled by the robust performance of its digital retail segment.
SMIC SG Holdings Pte. Ltd., a wholly-owned subsidiary of SM Investments Corporation (SMIC), and SMPHI SG Holdings Pte. Ltd., a wholly-owned subsidiary of SM Prime Holdings, Inc. (SMPH), jointly established a US$3.0 Billion Multi-Issuer European Medium Term Note (EMTN) Programme
The clean and renewable energy provider of the Lopez Group, First Gen Corporation (First Gen), reported a 9% decline in attributable recurring net income for the first quarter of 2024, coming in at US$81 million (P4.5 billion) as opposed to US$89 million (P4.9 billion) for the same period in 2023.
In the first quarter of 2024, D&L Industries' recurring income came to P618 million, or earnings per share of P0.087. With the Batangas plant nearly breaking even for the quarter, this is up 4% YoY. In 1Q24, EBITDA—which does not account for the impact of higher depreciation and interest payments resulting from the new plant—rose 17% YoY to P1.25 billion, demonstrating the fundamental resilience of the company's core operations.
The Ayala group's listed energy platform, ACEN Corporation, announced that its consolidated net income for the first quarter of 2024 increased by 34% to P2.7 billion. A 49% increase in the amount of renewable energy that can be attributed to the organization is the reason for the notable improvement in its financial performance.
The consolidated net income of SM Investments Corporation (SMIC) increased to P18.4 billion in the first quarter from P17.3 billion at the same time the previous year, a 6% increase. Compared to the same period last year, when consolidated revenues were P138.3 billion, they climbed by 4% to P144.0 billion in January to March.
Due in large part to robust consumer demand and real estate demand, Ayala Land, Inc. (ALI) reported strong earnings growth in the first quarter of the year. In comparison, ALI's consolidated revenues climbed by 33% to P41.0 billion in the first quarter of 2023, while its net income improved by 39% to P6.3 billion.
One of the top Philippine conglomerates, JG Summit Holdings, Inc. (JGS), reported first-quarter core net income of P12.6 billion (1Q24), an increase of 213% YoY. This was on the back of the strong results of its food, real estate, and air transport businesses, which were further boosted by the gains it realized from its bank merger.
Driven by higher sales in its Food and Spirits businesses, San Miguel Food and Beverage Inc. (SMFB) reported robust financial results for the first quarter of 2024, with consolidated operating income up 13% to P13.1 billion.
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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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