AEV 9-mth net income surges 44% to P17.1B

ABOITIZ Equity Ventures Inc. (AEV) reported a consolidated net income of P17.1 billion for the first nine months of the year, up 44 percent from P11.9 billion a year earlier on the back of strong its banking, power and infrastructure business operations.

Of the total, 63 percent profit came from Aboitiz Power Corp., followed by Union Bank of the Philippines (22 percent), Pilmico Foods Corp. (7 percent), Republic Cement and Building Materials Inc. (7 percent), and Aboitiz Land Inc. (1 percent).