PetroEnergy income up 21% in 2020 due to Tarlac solar farm on May 7, 2021 at 3:58 pm
Yuchengco-led PetroEnergy Resources Corp. (PERC) recorded a growth in its consolidated net income by 21% to Php646 million from Php534 million in 2019, due to the full-year operations of its 20-megawatt (MW) Tarlac-2 solar plant.
Other factors that led to PERC’s “strong financial performance” last year were the prolonged season and feed-in-tariff rate adjustments, it said in a disclosure to the Philippine Stock Exchange on Thursday.
PERC also posted a nine percent increase in its net income attributable to parent company from Php293 million to Php319 million year-on-year.
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Metro Manila (CNN Philippines, May 4) Petron Corporation says its positive momentum is continuing well into the first three months of 2021 as it reports higher earnings for the quarter.
In a disclosure to the Philippine Stock Exchange on Monday, the firm reported a consolidated net income of ₱1.73 billion for the first quarter of 2021, surpassing the ₱1.2 billion recorded for the preceding quarter.
“As a company, we are doing all that we can to create a safe and healthy work environment while ensuring that our recovery stays on track,” Petron president and chief executive officer Ramon Ang said in the disclosure statement.
The listed oil refiner and retailer informed the Philippine Stock Exchange on Monday that its “positive momentum continued well” into the first three months of 2021 with profits registered for the period.
URC sees higher earnings in Q1, Robinsons Retail posts flat growth
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Metro Manila (CNN Philippines, April 30) Universal Robina Corporation saw earnings surge in the first three months, the Gokongwei-led company said Friday.
In a disclosure, the food manufacturing giant reported a net income of ₱3.2 billion in the first quarter, up from ₱2.1 billion year-on-year.
URC attributed its strong quarterly performance to its nine percent growth in operating income at ₱4.3 billion and lower foreign exchange losses, controlled financing costs, and benefits from the Corporate Recovery and Tax Incentives for Enterprises Act.
Total net sales, however, saw a mild annual increase of 3% to ₱34.6 billion. This was mainly due to the continued recovery of URC s international business units and growth from its commodity division, which offset challenges in domestic branded consumer foods, it said.
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