EDC nets P3.3 billion in first quarter, expects ‘relatively flat’ financial year
LOPEZ-LED Energy Development Corp. (EDC) ended the first quarter with a 2.1% increase in net income to P3.3 billion mainly due to higher sales, but its financial showing for the year may turn out to be flat, its finance chief said.
50-MW solar plant in Bulacan goes online
MERALCO PowerGen Corp. (MGen) said on Thursday its unit had begun commercially operating a 50-megawatt (MW) solar plant in San Miguel, Bulacan after receiving regulatory approval.
Maynilad: P29-B worth of sewage treatment plants being constructed
WEST ZONE water concessionaire Maynilad Water Services, Inc. is building several sewage treatment plants costing P29 billion in Caloocan, Las Piñas, central Manila, Valenzuela, and Muntinlupa as part of its commitment to protect the environment.
PAGCOR remits P1.6-B income as dividends to government
STATE-RUN gaming regulator Philippine Amusement and Gaming Corp. (PAGCOR) remitted all of its P1.57-billion net earnings as cash dividends to the Bureau of the Treasury on Wednesday to aid the government with its pandemic response.
Jollibee swings to profitability, moves to cut debt
JOLLIBEE Foods Corp. (JFC) generated P153 million in net attributable income despite lower sales in the first quarter, it said on Wednesday, as it bounced back from the P1.68-billion loss recorded in the same period last year.
PAL says ‘comprehensive restructuring’ plan going on amid Chapter 11 news
FLAG carrier Philippine Airlines (PAL) assured the public on Tuesday that its operations will not be affected by its ongoing “comprehensive restructuring.”
Cebu Air shareholders approve long-term incentive plan for employees
SHAREHOLDERS of Cebu Air, Inc., the listed operator of budget carrier Cebu Pacific, approved on Wednesday the company’s long-term incentive plan for its employees, partly aimed at attracting and retaining key talents.
Shakey’s to receive P1.25-billion investment from Gokongwei firm
SHAKEY’S Pizza Asia Ventures, Inc. (SPAVI) said on Wednesday it is set to receive a P1.25-billion investment from Gokongwei-led JE Holdings, Inc., which will become one of its stakeholders.
SEC greenlights Ayala Corp.’s P30-B debt program
THE Securities and Exchange Commission (SEC) has given the go signal for Ayala Corp.’s P30-billion debt securities program.
Globe eyeing new products to ‘regain momentum’
GLOBE Telecom, Inc. is planning to offer new products and services as it prepares for increased competition in the telecommunications industry, its top official said.
Metro Retail Stores incurs P126-M loss as customer traffic slows
METRO Retail Stores Group, Inc. incurred a P126.47-million net loss in the first quarter, a reversal of its P7.98-million income year on year, as lower customer foot traffic and the trend of prioritizing essential goods led to lower revenues.
Vivant profit down 56% despite higher power sales
CEBU-BASED Vivant Corp. said on Wednesday that its net income attributable to parent equity holders slid around 56% to P141.99 million in the first quarter after recording decreased revenues despite better power sales.