MPIC posts 17% profit growth in 2017

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Metro Pacific Investments Corp. sustained a double-digit growth in net profit on the strength of its increased presence in the power industry.

The infrastructure conglomerate said in a disclosure to the stock exchange it reported a 17% rise in consolidated core net income to P14.1 billion last year from P12.1 billion in 2016.

MPIC got a boost from an expanded power portfolio following further investment in Beacon Electric Asset Holdings Inc., robust traffic growth on all roads held by Metro Pacific Tollways Corp.; and continuing growth in the hospital group. — Krista Angela M. Montealegre