THE ABOITIZ GROUP on Thursday said it continues to operate its various business segments amid a coronavirus lockdown that started in mid-March.
In a statement, listed Aboitiz Equity Ventures, Inc. (AEV) said its business facilities, power and cement manufacturing plants and development sites have been operating while following health and safety protocols.
“Aboitiz is committed to providing unhampered delivery of products and services across critical sectors that will help keep our economy moving,” AEV President and Chief Executive Officer Sabin M. Aboitiz said in the statement.
Aside from its main business which is power, the Aboitiz group also has banking and financial services, food, land and infrastructure interests. It also has units in cement manufacturing and construction.
AEV posted a 55% income drop to P4 billion in the first half, as contributions from its power business dropped by 57% to P2.9 billion.
When it disclosed its earnings in late July, the company said it was expecting improved performance in the second half as the country adjusts to the pandemic.
Shares at AEV fell by 2.49% or P1.20 to P47 each. — Denise A. Valdez
