Dragged by losses incurred by its power unit, the third-quarter and nine-month consolidated net income of conglomerate Aboitiz Equity Ventures Inc. (AEV) dipped by 25 percent to P4.6 billion and 8 percent to P16.6 billion, respectively.
Out of the total earnings contributions from the AEV’s strategic business units (SBU), power accounted for 80 percent, while the income contribution of its banking, food and real estate business units were at 12 percent, 7 percent and 1 percent, respectively.
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