MANILA (Yosefardi) – Metro Pacific Investments Corporation (MPIC), controlled by Salim Group, booked consolidated core net income of ₱8.5 billion for 2014, up 18% over the ₱7.2 billion achieved in 2013 as each of its four main businesses deliver strong growth despite regulatory challenges.
The rise in core net income was due mainly to; (i) robust earnings growth at Metro Pacific Tollways Corporation (MPTC), (ii) growth at Maynilad Water Services, Inc. and Manila Electric Company (MERALCO), and (iii) strong organic growth and the benefit from new investments in the Hospital Group.
MPIC said the strong results for the year reflect continuing improvements in service levels as well as efficiency and financing gains at its operating companies. This progress in profitability is encouraging despite a difficult regulatory environment.