First Gen H1 net income slips 7% to $95.3M

LOPEZ-led First Gen Corporation (First Gen) reported a slight decrease in its net income in the first half of the year due to lower earnings of key subsidiaries Energy Development Corporation (EDC) and First Gen Hydro Power Corporation (FG Hydro).

In a disclosure to the Philippine Stock Exchange (PSE), First Gen said that for the first half, net income attributable to equity holders of the parent fell 7.1 percent to $95.3 million [P4.4 billion] from the $102.6 million registered in the same period in 2014.