Lopez Holdings CorporationLopez Holdings Corporation posted P4.225 billion in net income attributable to equity holders of the parent for the year 2017. This is 36% lower than the P6.557 billion in net income attributable to equity holders of the parent reported in 2016. One-off gains reported in 2016 and absent in 2017 accounted for most of the decline.
First Philippine Holdings Corporation (FPH) reported a 41% decrease in net income attributable to equity holders of the parent to P5.854 billion from P9.933 billion. ABS-CBN reported a 10% decrease in net income to P3.164 billion from P3.525 billion in the absence of election-related advertising revenues.
Consolidated revenues increased by 14% year-on-year to P104.890 billion from P91.910 billion, reflecting higher sale of electricity of FPH subsidiary First Gen Corporation. Recurring net income of FPH was at P6.829 billion, 15% higher than P5.929 billion the previous year.
As of December 31, 2017, Lopez Holdings owned 46% of FPH and 56% economic interest in ABS-CBN. (Story/Photos by: Carla Paras-Sison)