Lopez HoldingsLopez Holdings Corporation reported P2.174 billion in net income attributable to equity holders of the parent for the first six months of 2018. This is 23% higher than the P1.763 billion in net income attributable to equity holders of the parent reported in the first six months of 2017. The stable performance of the energy group under associate First Philippine Holdings Corporation (FPH) accounted for the results.
Unaudited consolidated revenues increased by 14% yearon-year to P58.674 billion from P51.482 billion.
FPH posted a 61% increase in net income attributable to equity holders of the parent while ABS-CBN Corporation reported a 41% decrease 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. ABS-CBN revenues declined by 2% while expenses increased by 4%.
As of June 30, 2018, Lopez Holdings owned 47% of FPH and 56% economic interest in ABS-CBN. (Story/Photos by: Carla Paras-Sison)