LOPEZ Holdings Corporation reported P6.061 billion in net income attributable to equity holders of the parent for the first nine months of 2019. This is 54% higher than the P3.944 billion in net income attributable to equity holders of the parent reported in the first nine months of 2018. The energy group under associate First Philippine Holdings Corporation (FPH) continued to perform strongly. Meanwhile, investee ABS-CBN Corporation’s advertising revenues continued to recover, boosted by political placements.
Unaudited consolidated revenues increased by 9% year-onyear (YoY) to P99.767 billion from P91.188 billion.
During the period, FPH posted a 35% increase in net income attributable to equity holders of the parent, while recurring net income was 21% better as electricity sales grew by 10%. ABS-CBN reported a 53% increase in net income as advertising revenues increased by 15%. Without political placements, regular ad revenues increased by 6%.
As of September 30, 2019, Lopez Holdings owned 51% of FPH and 56% economic interest in ABS-CBN.