27-Feb Business World Meralco core income jumps 18% in 4th quarter


MANILA Electric Co. (Meralco) posted a core net income of P5.72 billion in the fourth quarter of 2018, higher by 18.2% compared with the P4.84 billion a year earlier largely because of the higher power consumption during the last three months of 2018.


Reported net income, which includes one-time gains, hit P4.81 billion during the quarter, up 7.8% from the P4.46 billion posted in the same quarter in 2017.


Oscar S. Reyes, Meralco president and chief executive officer, described the distribution utility’s performance in 2018 as “another strong year” for the company “partly as a result of relatively conducive economic environment.”


“In terms of GDP (gross domestic product), we’ve seen the last nine years with GDP of over 6% year-on-year, something that the Philippines has managed to move to a new trajectory of growth,” he said during the company’s media briefing at its head office in Pasig City.
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27-Feb SunStar Aboitiz cited for education programs


THE Department of Education (DepEd) has recognized the Aboitiz Group’s outstanding contribution in pursuing the development of basic quality education in the Philippines.

Seventeen Aboitiz business units and two foundations received DepEd Certificates of Appreciation during the department its Partners’ Appreciation ceremony held in Pasig City for the long-standing commitment to promoting education and collaboration under the Adopt-A-School Program (ASP).
Among these are AboitizLand, Aboitiz Foundation, CitySavings, Cotabato Light, Davao Light, Hedcor, Hedcor Sibulan, Hedcor Davao, Pilmico, Pilmico Animal Nutrition, TMI (Therma Marine) Maco, TMI Nasipit, TMO (Therma Mobile), Luzon Hydro, AP Renewables, Inc. (APRI)-MakBan, APRI-Tiwi, Therma Luzon, Visayan Electric Co. Inc. (Veco), and WeatherPhilippines.

“Thank you very much to the Aboitiz Group for your generosity and support and continued interest in education. We truly appreciate your assistance all these years and your contribution to the vast improvements that have been made in education,” Education Secretary Leonor Magtolis Briones said.


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