By Zinnia B. Dela Peña
MANILA, Philippines - Lopez Holdings Corp. (formerly Benpres Holdings Corp.) reported a net income of P13.17 billion last year, up 10.7 percent from P11.9 billion in 2009, on the record performance of ABS-CBN Broadcasting Corp. and gains from asset sales.
Multimedia conglomerate ABS-CBN had a banner year in 2010, with net earnings surging 87 percent to P3.179 billion and revenues expanding 30 percent to P32.185 billion.
In a financial report submitted to securities regulators, Lopez Holdings said equity in net earnings jumped by 164.8 percent to P11.12 billion as affiliate First Philippine Holdings Corp. posted a net income of P24.85 billion, out of which 44.3 percent is held by the Lopez conglomerate. FPHC registered consolidated revenues of P64.3 billion with sale of electricity accounting for 82 percent.
Read here.
MANILA, Philippines - Lopez Holdings Corp. (formerly Benpres Holdings Corp.) reported a net income of P13.17 billion last year, up 10.7 percent from P11.9 billion in 2009, on the record performance of ABS-CBN Broadcasting Corp. and gains from asset sales.
Multimedia conglomerate ABS-CBN had a banner year in 2010, with net earnings surging 87 percent to P3.179 billion and revenues expanding 30 percent to P32.185 billion.
In a financial report submitted to securities regulators, Lopez Holdings said equity in net earnings jumped by 164.8 percent to P11.12 billion as affiliate First Philippine Holdings Corp. posted a net income of P24.85 billion, out of which 44.3 percent is held by the Lopez conglomerate. FPHC registered consolidated revenues of P64.3 billion with sale of electricity accounting for 82 percent.
Read here.
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