Advertisements


Remittances likely logged double-digit increase in February

By Melissa Luz T. Lopez Senior Reporter CASH REMITTANCES sent by overseas Filipino workers (OFWs) likely surged in February to log a double-digit increase, a global bank said, following a slowdown seen as the year opened. Analysts at HSBC Global Research said remittances likely grew by 14.7% for the month, which if realized would be […] The post Remittances likely logged double-digit increase in February appeared first on BusinessWorld......»»

Category: newsSource: bworldonline bworldonlineApr 15th, 2018

Remittances may have grown 14.7% in February

British banking giant HSBC said remittances from overseas Filipino workers likely recorded a double digit increase in February......»»

Category: financeSource:  philstarRelated NewsApr 16th, 2018

Remittances likely grew in March despite deployment ban

MONEY sent home by overseas Filipino workers (OFWs) likely kept growing in March despite a deployment ban to Kuwait, HSBC Global Research said. Remittances likely grew by 4.5% during the month, matching the pace clocked in February although slower than the 10.7% increase logged in March 2017. “We expect March remittances to rise 20.5% month […] The post Remittances likely grew in March despite deployment ban appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMay 13th, 2018

Online hiring jumps 18% in August — Monster.com

By Anna Gabriela A. Mogato Online hiring activity in the Philippines grew by 18% year on year in August, data from job listing platform Monster.com showed. In its latest Monster Employment Index, which measures online job posting activities, the retail and healthcare industries led the double-digit growth with a 40% and 33% increase respectively. The business […] The post Online hiring jumps 18% in August — Monster.com appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsOct 8th, 2018

Duterte approval, trust ratings take steep dive

MANILA: President Rodrigo 'Rody' Duterte's trust and approval ratings have taken a double-digit steep dive which Malacanang Palace blamed mainly on the unabated increase in the price.....»»

Category: newsSource:  manilanewsRelated NewsSep 27th, 2018

SSS sees double digit growth in collections to P180 billion this year

State-run Social Security System (SSS) expects collections to increase by 13 percent to P180 billion on the back of its aggressive campaign against delinquent employers......»»

Category: financeSource:  philstarRelated NewsAug 19th, 2018

Property, retail drive SMIC profit higher

SM Investments Corp. (SMIC) reported a nine percent increase in earnings during the first six months of 2018, boosted by the double digit growth of its property and retail units amid flattish results from the banking business. The post Property, retail drive SMIC profit higher appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsAug 9th, 2018

Shakey’s H1 earnings up by 7%

Shakey’s Pizza Asia Ventures, Inc. (SPAVI) grew its earnings by seven percent in the first six months of 2018, as higher prices of raw materials tempered the double-digit increase in sales. The listed casual restaurant operator reported P396 million in net income for the first semester of the year, higher than the P371 million it… link: Shakey’s H1 earnings up by 7%.....»»

Category: newsSource:  manilainformerRelated NewsAug 7th, 2018

Century Pacific’s second-quarter profit up by 9%

Century Pacific Food, Inc. (CNPF) delivered a nine percent increase in earnings for the second quarter of 2018, driven by the double-digit growth in branded revenues amid higher costs of raw materials. In a regulatory filing, the listed canned goods manufacturer said net profit reached P838.9 million in the April to June period of 2018, […].....»»

Category: financeSource:  bworldonlineRelated NewsAug 1st, 2018

Bank deposits up 11.7% to P11.4 trillion in May 2018

More Filipinos continue to entrust their savings with banks as deposits recorded a double-digit increase in the first five months amid the strong economic growth......»»

Category: financeSource:  philstarRelated NewsJul 28th, 2018

RFM posts flat Q2 net earnings

RFM Corp. saw flat earnings growth during the second quarter of 2018, as softer prices of flour and higher costs of raw materials offset a double-digit increase in revenues......»»

Category: financeSource:  bworldonlineRelated NewsJul 23rd, 2018

Q& A: Chicago Bulls head coach Fred Hoiberg

By Steve Aschburner, NBA.com A year ago, on the night of the 2017 NBA Draft, the Chicago Bulls switched gears. Jimmy Butler was traded to Minnesota, taking with him any pretense that the Bulls were a legitimate playoff team. In that moment, Chicago committed to a rebuild, which is to say, a dive into the draft lottery where coach Fred Hoiberg and his team presumably would be rewarded not for how many games they won but how many they lost. By whatever means necessary. Soon after Butler was moved to the Timberwolves, veteran point guard Rajon Rondo was waived. A few months later, Dwyane Wade was cut loose (via a handsome buyout) to bounce through Cleveland to Miami. The Bulls moved forward with three young pieces courtesy of the Wolves -- wing Zach LaVine, guard Kris Dunn and the No. 7 pick in 2017, rookie forward Lauri Markkanen -- and a general acceptance that getting from there to here was going to bring a lot of pain. Some of that was literal: Bobby Portis slugged teammate Nikola Mirotic in a preseason practice, breaking two facial bones and putting Mirotic on the shelf for 23 games. Some of it was figurative: the frustration of a season that began as a 3-20 mess and ended in a 10-28 slog. In between, though, the Bulls somehow put together a 14-7 stretch that offered a glimpse of what 2018-19 might be. It also cost them precious lottery balls, eventually leaving them with the No. 7 pick (and No. 22, after dealing Mirotic in February to New Orleans) in Thursday’s (Friday, PHL time) Draft. Hoiberg, who went from an alleged coaching “hot seat” during two .500 seasons, wound up with more job security as a coach headed toward 50 defeats and beyond. He spoke with NBA.com about his and the Bulls’, er, challenging season. This is edited from a pair of longer conversations, one at the end of the regular season, the other within the past week. NBA.com: So you go through everything that was 2017-18, dutifully lose 55 games and wind up at No. 7 instead of in the top three for the Draft. The inevitable question is, was it worth it? Fred Hoiberg: Obviously you’re disappointed. You were hoping to move up. But we’re confident we’re going to get a good player with the No. 7 pick and we’re confident we’ll get a good player with the 22nd pick. NBA.com: C’mon, this isn’t our first rodeo. I get that people don’t like to use the word “tanking,” but the Bulls’ marching orders last season were pretty clear. FH: I don’t think you can look at it that way in the midst of your season. The players are competitive, your staff is competitive. You want to play as well as you can and put yourself in a position to win. When you look at the successful stretch that we had in December and January, you think about carrying those things forward and then adding, based on who we get, to the roster. There was some real frustration that we didn’t get a lot of wins at the end. But we developed some younger players and saw what we had with some of our guys. NBA.com: When you guys had that run before the season’s midpoint, winning seven in a row (first team in NBA history with such a long winning streak immediately after a losing streak of 10 in a row) and 10 of 12, did you and the front office ever consider a Plan B? As in, maybe, show potential free agents how good your supporting cast could be, in hopes of luring big-name help this summer? FH: I think we did. What we showed was a really good foundation and a young core that we can build around. When I look back at it, I just wish we could have had more opportunity to work with it and see what it would have looked like. When Zach LaVine came back [Jan. 13 from ACL knee surgery], the plan was for him to play about 20 minutes a night. Then his third game, Kris Dunn fell against Golden State and had that concussion [that cost him 11 games, before missing the final 14 with a toe injury]. It’s too bad we didn’t get the full look. But players like Cam Payne, Denzel [Valentine], Bobby, Robin [Lopez], Justin Holiday all had career years.   NBA.com: You had a lot of injuries down the stretch. Not to suggest that they weren’t all legit, but were you instructed at any point by VP John Paxson or GM Gar Forman to dial it back after that 14-7 success? FH: No, we weren’t. And the big thing from the very beginning of last season, the two things we wanted to see, was competing at a high level every night and the development of our players. I think we accomplished that. NBA.com: What -- in your background as a player, coach, competitor, you name it -- prepared you for this past season? FH: Part of what prepared me for this was, I had been through this as a player. I went from four really competitive teams in Indiana, playing with someone as driven and helpful as Reggie Miller, taking me under his wing. There were other great veteran players who helped me just to survive and taught me a lot. Larry Brown was the coach, then Larry Bird my last two years.   Then when I came to Chicago, I knew it would be an opportunity to play. But it was a rebuild. Eventually I got thrust into the role of captain, as the oldest player on team at 28. It really helped me with what we’re going through now. I learned how important it is to keep guys’ morale up and be positive through the ups and downs. I give our guys all the credit in the world for remaining so positive, keeping up a great work ethic and still being sponges in wanting to learn. NBA.com: What were the takeaways from the best and healthiest part of last season? FH: We got a pretty good feel for what Kris Dunn can be. He really evolved into being a closer for our team. Lauri was closing games for us, taking big shots as a 20-year-old kid. Zach had the game against Minnesota. What people fail to remember about Zach, he averaged over 22 points a game in February and really got into a pretty good rhythm. Then he had some knee soreness and wound up sitting for the rest of the year. But we had some flashes of what this can turn into. NBA.com: Niko paid for his role in sparking that hot streak. FH: Niko was great. He missed those first 23, and I thought our team handled that adverse situation about as well as anybody could, not letting it affect us in a negative way. We were able to move past it. You even saw the chemistry that Niko and Bobby played with when they were out there together. NBA.com: How hard was it personally downshifting from a team that had gone to the playoffs to one that didn’t put a priority on winning? FH: When the move was made on draft night, when those three kids came in, right away there was an excitement. Everyone had seen what Zach had done. He was a highlight reel and had those slam dunk championships. He plays the game with ease on the offensive end. His athletic tools and ability to get up and down the floor. Kris, everybody absolutely loved coming out of the draft [in 2016]. Then he had an up-and-down rookie season. Helping him to get that swagger back that he had coming out of Providence took some work, but he was aching to put that work in. Markkanen, I know the guys upstairs knew how good he was but I had no idea. I didn’t study him because we had the 15th pick. He comes over after a grueling summer -- summer league, Eurobasket with all that pressure in front of his home fans -- and he was exhausted. But then you saw every day, “Man, this kid is really good.” You’re thinking, we could probably put the ball in this kid’s hands. Then he goes up and dunks over a whole team and you say, “My God, this kid’s more athletic than we thought. He uses his feet, he’s got anticipation, he’s got toughness.” He showed a little more every day. NBA.com: Was it difficult asking a proud veteran like Robin Lopez to put it in idle over the final 25 games? FH: I think he understood. He’s been a part of a lot of different situations. He was great. He continued to lead. He continued to practice hard. He talked to the bigs as they came off the floor. NBA.com: Was your own health challenged at all by the stress of this season? Your past issues related to your heart are widely known, and coaching an NBA team even in the best of times is a demanding job. FH: After two open-heart surgeries, I do have to sometimes check myself. There are so many things you can over-concern yourself with in this business. Then you look back a week or two later and say, “My God, why did I put so much effort into that one stupid thing that happened?” You have to let go sometimes. My family is so important for me with that. You get some normalcy in your life. [At night, lying in bed, Hoiberg can hear a valve in his heart every time it beats. He let a visitor listen, too, and sure enough... ] If this ever affected me to the point where I had to throttle back, I would move on to something else. When I had my first surgery and they removed the diseased tissue from the aorta that had an aneurysm in it, they got rid of the problem. The valve deteriorated after they put a new valve in and they had to go in again, but the diseased tissue no longer was there. If it was a risk, I’d be doing something else. But it’s a constant reminder. You think you’re going to get used to it, but you never really do. My wife will be lying next to me and she hears it. NBA.com: When you look back on 2017-18, is it like “Casablanca” for you guys? As in, you’ll always have December? FH: It was fun to see how much the work paid off. Everyone was putting so much into it to get out of that slump. You can say, we had something to build on there. But whenever I talked to our team, before or after, it was all about competing on a nightly basis. Being consistent with their effort. I couldn’t be more proud of how they handled it. They were on time. They kept trying to get better. They worried about what they could control. I didn’t have to have even one of those conversations where I sat a guy down and said, “You’re not playing hard enough.” I did have a few conversations where I said, “You need to move the ball more.” [laughs] NBA.com: Big difference, coaching relative kids after the so-called “three alphas” of Butler, Wade and Rondo? Jimmy seemed eager to stay here to win. FH: Jimmy did so many things for this team. He was great to coach. You knew every night you were going to get an unbelievable effort. A guy who never backed down. Who never shied away from the big shot. And was going to defend at a high level every time he stepped on the floor. So Jimmy was missed in a lot of ways. But when you look at the young guys’ abilities, it’s exciting. NBA.com: What do you make of having better job security now that the losses are mounting, compared to those .500 seasons? FH: I don’t think any one of the 30 guys in our position pay attention to that. You can’t do your job if you do. You go in and try to improve as an individual, as a staff, as a team. Our first year, Derrick Rose suffered an orbital fracture in the first workout. We had 10 rotation players who missed double-digit games. Two starters missed 50 or more [Mike Dunleavy, Joakim Noah]. Niko had that botched appendix surgery. The next year was a completely different team. Nobody predicted we’d be a playoff team but we were and had a good chance to beat Boston before Rondo got hurt. NBA.com: When you’re not coaching veterans, is it a purer form, as far as installing “your” system vs. tailoring things to them? FH: You always look for the best system, the best approach. The basics don’t change, but [in 2016-17] we had a lot more isolation players, so we ran more of those types of actions. This [past] year, more ball movement, player movement fit this group better. We had longer, harder practices as opposed to a veteran group as the year went on. NBA.com: Since the end of the season, how much time have you put in on developmental activities and draft preparation? FH: We’ve had a lot of guys in and gotten a lot of work in, in the early part of the offseason. We’re looking forward to working again after the draft with some new young players as part of the roster. It’s all about moving forward. NBA.com: As you look back over the past year, with the script flipping to the point where the Bulls wanted to win by losing and maybe lost -- some draft position, anyway -- by winning, what goes through your mind? FH: What was Donovan Mitchell [the Rookie of the Year finalist chosen by Utah]? The 13th pick? You just never know with the draft. You play hard, you get the culture established the way you want it and things take care of themselves. What really would have been devastating would have been ending the season with negativity, with your team not playing hard, with your team disinterested. That’s something that would be a real cause for concern going into an offseason. But our guys felt good about themselves. Some were sacrificing in a big way and pulling for younger guys. They were playing hard, they were cheering for each other. Steve Aschburner has written about the NBA since 1980. You can e-mail him here, find his archive here and follow him on Twitter. The views on this page do not necessarily reflect the views of the NBA, its clubs or Turner Broadcasting......»»

Category: sportsSource:  abscbnRelated NewsJun 19th, 2018

House panel tasks BIR to look into Sereno’s possible tax liabilities

Since the missing Statements of Assets, Liabilities and Networth (SALN) of Chief Justice Maria Lourdes Sereno remain missing, the House committee on justice that has been holding hearings on the impeachment case against the top magistrate in the High Court has directed the Bureau of Internal Revenue (BIR) to begin an investigation on the possible tax liabilities of Sereno, owing to her having failed to file her SALNs for 17 years when she was still a law professor at the University of the Philippines (UP). At the resumption of the impeachment hearing to determine probable cause on the complaint filed by lawyer Larry Gadon against Sereno, panel chair Oriental Mindoro Rep. Reynaldo Umali asked BIR deputy commissioner Arnel Guballa to produce a report on or before February 19 Sereno’s tax payments. Among the basis cited by Gadon in his complaint was Sereno’s alleged failure to declare in her SALN from 2010 to 2016 her earnings as one of the private counsels of the government in the expropriation of the Ninoy Aquino International Airport Terminal 3 in the Piatco case amounting to P30 million. Based on documents Gadon was able to secure, Sereno reportedly filed her SALN in 1998, 2002 and 2006, even as she was employed as a professor by the UP College of Law from 1986 to 2006.Guballa, who submitted the Chief Justice’s income tax return from 2004 to 2009, said Sereno declared her income as a lawyer from a law office.Asked about Sereno’s income tax payments representing her earnings from the Piatco case, Gubala said they are still in the process of investigating this.“We can answer those questions when we will have conducted a formal investigation,” said Guballa, adding they will try to come up with a proposed deficiency or anything with regard to Sereno’s income in two weeks.“We are still collating information. We can answer those questions when we have conducted a formal investigation,” he said.“We will try our best in two weeks. . . . I will try my best to come up with a proposed deficiency or whatever we can made regarding the income the Chief Justice had made,” Guballa added.Sereno’s camp had said the Chief Justice received the Piatco fee in tranches so the full amount does not appear in her 2010 statement of assets, liabilities, and net worth.The camp of Sereno had a statement explaining that “Chief Justice Sereno has accurately and properly declared all her earnings as government co-legal counsel in the PIATCO cases.”Lawyer Josa Deinla, serves as Sereno’s spokeswoman.Deinla added that the BIR has not served any deficiency assessment notice to Sereno during the years she filed her income tax returns.“This only means one thing: All her income tax filings when she was a private lawyer were accurate and proper,” she said.“We are confident that the plan of the House committee to have the CJ’s ITR filings looked into by the BIR would prove that the Chief Justice had paid the corresponding taxes for the income she earned while in private law practice,” she added.Gadon, in an interview at the sidelines of the hearing, lauded the order of the panel to the BIR saying this would bolster his complaint aganst Sereno.“First we got certifications she did not file her SALNs during her tenure with the UP College of Law. Now, we will get a clearer picture of how she might have avoided paying taxes for her earnings on the Piatco case,” said Gadon.“In fact, the statement of the BIR, CJ Sereno declared her earnings from 2004 to 2009 as income for her practice as a lawyer and not as a professor from a state university which is something she should have to explain, too,” the lawyer added.Gadon also said that the action of the justice committee directing the BIR to investigate the tax payments and tax compliance of Sereno is living proof of the principle that the law should apply to all, even to the highest magistrate of the land. Hearing on CJ’s IT consultantIt was also a time for the justice panel to hear from IT consultant Helen Macasaet, who has been paid hefty consultant fees, with a monthly paycheck much higher than what the Supreme Court justices get paid.Macasaet admitted before the committee that she was paid a hefty P250,000 a month as a consultant of the High Court, which is higher than what SC justices are earning.Macasaet defended her consultancy fee saying it was much lower than what she used to earn in her previous engagements.According to Macasaet, she used to earn P925,000 a month as an IT consultant for the GSIS. The House panel is on its 14th hearing on the impeachment case, this time, to determine if there was probable cause to impeach her.In a press statement issued by Gadon, it said that in the hearing conducted yesterday, it turned out that the IT contract of Macasaet was renewed without bidding despite changes in the terms of reference and increase of the amount of more than double the original contract. “It turned out also that the legal staff of Sereno had the whims and caprices of determining the amount of the increase and the renewals in violation of procurement laws . Worse, these violations and anomalies were done with the express approval of Sereno. Even worse , it turned out that the IT consultant was allowed to work at some point without the contract having been signed yet! All the procedures of procurement were clearly violated by Sereno, Gadon said.GMA Online reported that a court attorney from the office of the Chief Justice also yesterday during the hearing confirmed that it was the head staff of the high magistrate who had introduced the IT consultant allegedly anomalously hired by the Supreme Court.“At the resumption of the House Committee on Justice hearing, court lawyer Michael Ocampo from Sereno’s office admitted that he was the one who submitted the curriculum vitae of IT consultant Helen Macasaet who was allegedly hired by Sereno “with an excessive compensation and without public bidding.”He admitted that he submitted the CV of Macasaet to the BAC when he was requested to do so.But when asked if the court lawyer knew Macasaet personally, he said he did not but was introduced to him by CJ’s chief of staff as an IT expert,” referring to lawyer Oliveros.Oliveros eventually admitted that Macasaet is her friend.Oliveros said she can only recommend somebody’s character. I know nothing about the EISP (Enterprise Information System Plan) and about ICT.Oliveros narrated that Sereno told her that the court’s EISP had been stalled for a while, and the position of the chief of the management information system office was vacant at the time.“The chief justice requested a meeting precisely because she wanted to talk, exchange ideas with Ms. Macasaet regarding the state of the EISP. And after that initial meeting she wanted to meet Ms. Macasaet and introduce her to the person in charge of the EISP which was Atty. Michael Ocampo at the Office of the Chief Justice,” she said.Lawyer Jojo Lacanilao, one of Sereno’s spokesmen said there was nothing irregular in Macasaet’s hiring as IT consultant.“The Supreme Court hired Ms. Macasaet from among three choices through negotiated procurement because her services are highly technical in nature and, therefore, exempted from public bidding under Section 53.7 of the 2009 Revised Implementing Rules and Regulations of R.A. 9184,” he said in an earlier press statement.The House justice panel is conducting deliberations to determine probable cause in the impeachment complaint lodged against Sereno.    With GMA online report.....»»

Category: newsSource:  tribuneRelated NewsJun 7th, 2018

Cavaliers to give Rodney Hood 'a shot' in Game 3

The Cleveland Cavaliers will add Rodney Hood to their Finals rotation in Game 3, head coach Tyronn Lue told reporters after practice, Wednesday (PHL time). "We're going to give Rodney a chance," Lue said. "He'll get a shot and see how he does. He's been working, staying ready. So we'll see." This postseason, Hood is averaging 13.8 minutes, 4.4 points, 1.1 rebounds, and 1.1 assists. He's shot 41.8 percent from the field, but just 15.0 percent on three's. Hood did not play in Finals Game 1, but was on the court in garbage time of Game 2, tallying two points, a board, and an assist. He last logged double-digit minutes in Game 2 of the Eastern Conference Finals, versus the Boston Celtics. Lue did not divulge where Hood's minutes will come from. Starting shooting guard JR Smith is averaging 35 minutes in the Finals, while Jordan Clarkson saw his minutes fall from 17 in Finals Game 1, to just eight in Finals Game 2. Hood memorably refused to enter garbage time of Game 4 of the Eastern Conference semifinals versus the Toronto Raptors, a situation the Cavaliers laughed off as not really a distraction. Teammate Kevin Love definitely believes Hood can contribute in the series, saying, "Just having that height on him and that wingspan, and the ability to not only make shots, but on the defensive end to switch out. Also play a guy like KD at his size and just make it tough on both ends of the floor for their team. That gives all of us a lot of confidence that he can come in and make an impact.".....»»

Category: sportsSource:  abscbnRelated NewsJun 6th, 2018

Insurance industry’s premiums climb 34% as life sector grows

THE INSURANCE INDUSTRY booked a double-digit increase in its total premium income in the third quarter, driven by the continued growth of the life insurance sector. Preliminary data based on unaudited reports submitted by life and non-life firms as well as mutual benefit associations (MBA) to the Insurance Commission showed the industry’s total premiums in […] The post Insurance industry’s premiums climb 34% as life sector grows appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMay 23rd, 2018

AUB consolidated income climbs

ASIA UNITED Bank Corp. (AUB) reported its consolidated net income went up in the first quarter on the back of double-digit growth in its core businesses. In a disclosure to the local bourse Tuesday, AUB said the lender and its subsidiaries, namely Cavite United Rural Bank and Rural Bank of Angeles in Pampanga, logged a […] The post AUB consolidated income climbs appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMay 22nd, 2018

AUB’s Q1 consolidated net income grows 21%

Asia United Bank (AUB) reported its consolidated net income went up in the first quarter on the back of double-digit growth in its core lending businesses. In a disclosure to the local bourse Tuesday, May 22, the Ng-led bank and its subsidiaries, namely Cavite United Rural Bank and Rural Bank of Angeles in Pampanga, logged […] The post AUB’s Q1 consolidated net income grows 21% appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMay 22nd, 2018

Cirtek net income up by 14% on strong revenue growth

Cirtek Holdings Philippines Corp. (CHPC) grew its net income by 14% in the first quarter of 2018, driven by a double-digit increase in revenues following the consolidation of its recently acquired firm alongside higher sales in its semiconductor unit. In a regulatory filing, CHPC reported a net income of $1.94 million in the January to […] The post Cirtek net income up by 14% on strong revenue growth appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsMay 21st, 2018

Cebu Landmasters Q1 earnings rise 17%

CEBU Landmasters, Inc. (CLI) reported a double-digit increase in earnings for the first three months of 2018, driven by higher revenues due to the construction progress of its projects. In a statement issued Wednesday, the Cebu-based property developer said net income improved by 17% to P498.7 million in the first quarter, supported by a 14% […] The post Cebu Landmasters Q1 earnings rise 17% appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsMay 16th, 2018

Lopez nets P1.14B

Conglomerate Lopez Holdings booked a 10-percent year-on-year increase in first quarter net profit to P1.14 billion, backed by a double-digit growth in earnings from its power generation and broadcasting businesses. Lopez Holdings' unaudited consolidated revenues increased by 8 percent year-on-year to P27.56 billion. The power generation business under First Philippine Holdings (FPH) grew first quarter net profit by 10 percent year-on-year while ABS-CBN Corp. registered a 31-percent increase in net income during the period. "Unfavorable forex (foreign exchange) movement during the period partially offset the effect of growth in the recurring earnings of the FPH group," the...Keep on reading: Lopez nets P1.14B.....»»

Category: newsSource:  inquirerRelated NewsMay 14th, 2018

Shakey’s nets P184 million, growth tempered at 6%

Full-service restaurant chain Shakey’s Pizza Asia Ventures posted a “tempered” earnings growth in the first quarter despite a double-digit sales increase......»»

Category: financeSource:  philstarRelated NewsMay 11th, 2018