Neil Jerome C. Morales
BusinessWorld
CONSTRUCTION FIRM EEI Corp. yesterday reported a 31% drop in profits for the first quarter from year-ago levels due to weaker service and merchandise sales, the company said in its financial report.
Its unaudited consolidated net income for January to March fell to P118.6 million from the P172.2 million recorded in the same period last year.
This is in contrast to an income growth last year, when profits of the firm rose by a tenth to P172.23 million in the first quarter due to more domestic construction contracts.
The recent decline comes even as consolidated revenues grew by 11% to 1.69 billion for the period.
Read here
BusinessWorld
CONSTRUCTION FIRM EEI Corp. yesterday reported a 31% drop in profits for the first quarter from year-ago levels due to weaker service and merchandise sales, the company said in its financial report.
Its unaudited consolidated net income for January to March fell to P118.6 million from the P172.2 million recorded in the same period last year.
This is in contrast to an income growth last year, when profits of the firm rose by a tenth to P172.23 million in the first quarter due to more domestic construction contracts.
The recent decline comes even as consolidated revenues grew by 11% to 1.69 billion for the period.
Read here
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