The combined earnings for all publicly listed firms grew to P377.12 billion in the first nine months of 2012, up 18 percent compared to the same period in 2011.

The Philippine Stock Exchange (PSE) said on Monday that the combined net income of listed companies increased by 17.9 percent to P377.12 billion from 2011’s nine-month figure of P319.97 billion.

Data were gathered from the financial statements of 229 listed firms submitted from October 1 and December 14 last year, the PSE said.

“Corporate earnings continue to be strong in 2012. The growth in nearly all sectors has also demonstrated the strength of the Philippine economy which, barring any negative circumstances, should continue to support expansion next year,” PSE President and Chief Executive Officer Hans Sicat said.

He said that the bourse has seen positive income growth from listed firms for the last three quarters of 2012.

“Companies have been positioning themselves to take advantage of the burgeoning economy, which should enable them to create more profits. The exchange, for its part, continues to encourage companies in utilizing the market to raise capital and fund their expansionary activities,” Sicat added.

Consolidated revenues of listed companies also increased by 20.1 percent to P3.29 trillion from P2.74 trillion in the first nine months of 2011.

Five out of six sectors recorded positive net income growths during the first nine months of 2012, while on a revenue basis, five out of six sectors registered higher revenues, with the industrial sector again leading the way with a 25.6-percent jump.

For the period, the consolidated income of the industrial sector increased to P38.63 billion, or 52.1 percent from gains on the sale of interests in subsidiaries, and increased equity in net earnings of associates.

The financials sector, on the other hand, earned a net income of P14.46 billion, or 26.6 percent with securities trading gains as the main component in the growth.

Also, combined profits of the holding firms sector increased by P17.22 billion, or 22.7 percent, mainly from improved income contributions of subsidiaries and associates.

Consolidated income of the property sector, meanwhile, increased by P4.73 billion, or 16.1 percent as a result of increased real estate sales, and improved rent revenues from newly opened malls.

For the service sector, new store openings drove its combined income of P2.30 billion, or 4.5 percent.

Meanwhile, the mining and oil sector’s aggregate income, however, dropped by P20.19 billion, or 57.7 percent in the absence of one-time gains, effects of suspended mining operations and lower nickel prices in the world market.