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Article: Philippines: Aboitiz Power logs P2.2-B net income in 3rd quarter.
- Article from:
- TendersInfo
- Article date:
- November 5, 2009
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Byline: prashant03
Aboitiz Power Corporation logged remarkable 99-percent improvement on its net income during the third quarter to P2.2 billion from P1.1 billion in the same period last year.
The company s year-to-date bottomline was also on a better note, with 20-percent increase to P3.8 billion from the previous year s P3.2 billion. This translated to P0.52 earnings per share.
AP emphasized that the stronger peso enabled it post P97 million non-recurring gain due to the revaluation of its dollar-denominated loans and placements on a consolidated basis, reversing the P158 million non-recurring loss it booked last year.
However, the ...