Homegrown fast-food giant Jollibee Foods Corp. plans to beef up its capital by as much as P20 billion in the next three years through the sale of preferred shares, as it expects to return to a pre-pandemic pace of global store expansion by 2022. During the company’s stockholders’ meeting on Friday, JFC president Ernest Tanmantiong…
Insular Life Assurance Co. Ltd. (InLife) is optimistic that it will sustain the strong growth performance it posted during the first four months under the helm of its newly appointed chief. “Our sales metrics are very encouraging. Our first-trimester results are giving us double-digit growth in agency and group sales,” InLife president and chief executive…
Beer giant San Miguel Brewery is upbeat on business recovery in the second half of this year with the rollout of the country’s COVID-19 vaccination program. In the first quarter, SMB booked a 47-percent year-on-year growth in net profit attributable to equity holders of parent firm amounting to P5.37 billion, driven by cost-savings reduction, lower…
After being bludgeoned by the COVID-19 pandemic in 2020, Megawide Construction Corp. returned to profitability in the first quarter of this year as belt-tightening measures made up for slower revenues generated by the construction and infrastructure businesses. Megawide booked an attributable net profit of P2.9 million in the first three months, much smaller than the…
Ty family-led conglomerate GT Capital Holdings’ first quarter net profit surged by 60 percent year-on-year to as earnings contribution from its banking and automotive businesses rebounded. Excluding nonrecurring items, core net income rose by 19 percent year-on-year to P3.4 billion, GT Capital disclosed to the Philippine Stock Exchange on Tuesday. Automotive arm Toyota Motor Philippines…
Property developer Cebu Landmasters Inc. (CLI) returned to a positive earnings growth path in the first quarter, outperforming the year-ago level even as the impact of the COVID-19 pandemic had yet to be fully felt in the comparative period. CLI, a leading developer in Visayas and Mindanao (Vis-Min) area, grew its attributable first quarter net…
Conglomerate Aboitiz Equity Ventures (AEV) saw a 276-percent year-on-year first quarter net profit growth to P7.6 billion, driven by the sharp earnings rebound across its power, banking, food, real estate and infrastructure businesses. Excluding non-recurring items, AEV’s core net income for the first three months of 2021 amounted to P7.8 billion, up by 243 percent…
Aboitiz-led UnionBank of the Philippines (UBP) grew its first quarter net profit by 79 percent year-on-year to P4.7 billion on the back of higher interest earnings and hefty trading gains. This performance translated to a robust return on equity of 18.1 percent, the bank told the Philippine Stock Exchange on Friday. “Our strong financial performance…