AboitizPower H1 net income falls 10% to P8.9B

Aboitiz Power Corp. said its net income in the first half declined 10 percent from a year earlier to P8.9 billion as revaluation adjustments on dollar-denominated loans weighed on earnings.

The company said the revaluation of consolidated dollar-denominated loans and placements resulted in a non-recurring loss of P143 million in the first half compared to last year’s one-time gain of P323 million.