Consunji-led DMCI Holdings sees a return to pre-pandemic earnings level this year as it sustained a triple-digit growth in second quarter earnings on the back of robust coal, property and nickel mining businesses. DMCI’s second quarter net profit surged by 269 percent year-on-year to and likewise topped first quarter’s bottom line by 23 percent. Excluding…
Gokongwei-led Robinsons Land Corp. (RLC) saw a 394-percent year-on-year increase in second quarter net profit to P2.56 billion as earnings from property development, rental portfolio and hotel operations bounced off a low base seen last year at the height of pandemic lockdowns. Amid the reimposition of tight restrictions through early April this year, RLC’s second…
Grocery chain operator Puregold Price Club Inc. sustained the earnings growth momentum seen since last year amid a prolonged coronavirus pandemic. Puregold, led by the group of retail tycoon Lucio Co, booked around , up by 20.8 percent year-on-year. Compared to the first quarter’s bottom line of P2.02 billion, however, earnings dipped by 2.5 percent.…
Petron Corp. made a turnaround in the first half of the year, bouncing back with a P3.87-billion consolidated net income after hitting a P14.24-billion net loss in the same period last year, as oil prices picked up and market optimism returned amid the rollout of vaccines against COVID-19. “Though we continue to face some challenges,…
Holcim Philippines, the country’s leading cement maker, chalked up P721.4 million in second quarter net income, reversing the P88.1 million net loss in the same period last year when it had to shut down its manufacturing facilities in Luzon to comply with pandemic-related lockdown restrictions. This brought Holcim’s six-month net profit to , 294 percent…
School is an integral part of the rhythm of Filipino life. The entire year is often planned by families based on when school opens and ends, and the students plan their future based on the subjects they are taking. So when the COVID-19 pandemic caused the largest disruption in education systems in history, we were…
Digital banking is transforming the traditional financial landscape. There are now 249 digital challenger banking players globally, comprised of dynamic digital upstarts and transitioning legacy operators. The Philippines offers an attractive opportunity for this expanding market. The release of the Digital Banking Guidelines in April this year, swiftly followed by agreed licenses for Overseas Filipino…
Tax and nontax revenues collected by local governments in the first half of 2021 inched up by about 4 percent year-on-year to amid easing quarantine restrictions and improving prospects due to the gradual reopening of the economy. Collections by the local governments in the first half of last year was P162.8 billion. Based on data…
Philippine construction giants and an array of global contractors and engineering companies submitted bids to build a portion of the P345-billion Philippine National Railways’ Calamba project. In a statement on Thursday, the Department of Transportation (DOTr) called it a “record-breaking” turnout as the firms vied for six contract packages for the construction of 40.5 kilometers…
The Philippines is seen avoiding a slowdown in its economic rebound in the third quarter amid relatively lower COVID-19 infections compared to its neighbors suffering from surges and with mass vaccination picking up, UK-based think tank Pantheon Macroeconomics said. The Philippines would also likely join Indonesia and Thailand in achieving instead of 2023, Pantheon Macroeconomics…