ABOITIZ Equity Ventures Inc. (AEV) said its first quarter net income rose 24 percent from a year earlier, mainly driven by the strong performance of its power, banking and financial, and infrastructure businesses.

In a report, the holding and investment company of the Aboitiz Group said its consolidated net income from January to March increased to P5 billion from P4.1 billion in the same period last year.

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