First Philippine Holdings CorporationFirst Philippine Holdings Corporation (FPH) posted a consolidated net income attributable to parent of P1.7 billion for the first quarter of 2015. This is higher by P632 million or 61% compared to the P1.0B last year primarily due to the improvement in revenues posted by all business segments.
Total revenues reached P25.6B, an increase of P2.4B or 10%, mainly driven by the sale of electricity from the Bacman, Nasulo and Burgos Wind plants that went online in the latter part of 2014.
First Gen Corporation reported a net income attributable to parent of P2.2B ($50.5M) for the quarter ended March 31, 2015, higher by P330M or 17% than last year’s P1.9B ($42.9M) (see related story on this page).
Rockwell Land Corporation posted a net profit of P361M, up by P107M or 42% from last year’s P254M, mainly driven by the growth in revenues generated by the Grove Towers EF, Proscenium Lincoln, and 8 Rockwell projects. Rockwell Land also registered lower interest expenses following the reduction in debt level.
First Philippine Industrial Park’s net income jumped P30M or 143% to P51M because of a 2.4-hectare industrial land sale during the first quarter.
First Balfour Inc. registered a net income of P208M, 89% or P98M higher than last year’s P110M, while First Philippine Electric Corporation’s electrical business posted profits of P121M, a P27M or 29% improvement in bottom line because of higher transformer sales during the quarter.
On April 8, 2015, the FPH board approved the declaration of cash dividends of P1.00 per share to all common shareholders and P13.75 per share to all Series C preferred shareholders, both with record dates of May 7, 2015, payable on or before June 2, 2015. (FPH Comptrollership Group)