First Gen first-half profit falls 17 percent

Lopez-led First Gen Corp. registered a 17.4-percent decrease in its 2013 first-half profit, as it saw lower income from its subsidiaries First Gen Hydro Power Corp. (FG Hydro) and Energy Development Corp. (EDC).

In a disclosure to the Philippine Stock Exchange, First Gen reported on Monday a net income attributable to equity holders of the parent company of $77.7 million for the first semester ended June 30, 2013, which was a 17.4-percent decline from the $94 million the firm registered in the same period in 2012.