Metro Pacific says 2016 net income up 20 pct


Posted at Mar 01 2017 02:17 PM

MANILA - Metro Pacific Investments Corp. said Wednesday its net income in 2016 grew 20 percent on the back of strong growth at all its operations.

Net income attributable to shareholders jumped to P11.5 billion last year from the P9.6 billion in 2015, driven by growth in its tollways, power, and hospital units, the company told the stock exchange.

Core net income rose 17 percent to P12.1 billion from P10.3 billion in the previous year.

"Our continuing earnings growth reflects significant volume increases for all our businesses, supported by our capital expenditures, together with intense focus on operational efficiencies," said Jose Ma. K. Lim, Metro Pacific president and CEO.

The company expects strong volume growth this year, he added.

Metro Pacific shares were up 1.62 percent to P6.91 on Wednesday.