Filinvest grows net income by 21%

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Filinvest Development Corp. (FDC) grew its net profit by more than a fifth last year buoyed by its banking and property businesses.

In a disclosure to the stock exchange on Tuesday, April 10, the holding firm of the Gotianun family said its net income hit P10.3 billion last year, a 21% improvement from the prior year.

Revenues rose 15% year-on-year to P67.6 billion, with banking and property contributing 42% and 40%, respectively. The share of the power segment stood at 15% and the sugar business at 3%. — Krista Angela M. Montealegre