Lopez Holdings CorporationLopez Holdings reported P1.145 billion in net income attributable to equity holders of the parent for the first quarter of 2018. This is 10% higher than the P1.042 billion in net income attributable to equity holders of the parent reported in the first quarter of 2017, on account primarily of higher consolidated forex losses during the period.
Unaudited consolidated revenues increased by 8% year-onyear (YoY) to P27.565 billion from P25.440 billion.
First Philippine Holdings Corporation (FPH) posted a 10% increase in net income attributable to equity holders of the parent while ABS-CBN Corporation registered a 31% increase in net income during the period. Unfavorable forex movement during the period partially offset the effect of growth in the recurring earnings of the FPH Group. Excluding nonrecurring items, attributable earnings of FPH increased by 36%. ABS-CBN ad sales decreased by 10% while costs and expenses decreased by 4%.
As of March 31, 2018, Lopez Holdings owned 46% of FPH and 56% economic interest in ABS-CBN. (Story/Photos by: Carla Paras-Sison)