Lopez Holdings H1 net income drops 8.8% to P7.2B

LOPEZ Holdings Inc. saw an 8.8-percent decline in net income in the first six months of the year despite higher revenues.

In a report, the listed conglomerate of the Lopez family showed an 8.8-percent fall in first-half net income to P7.2 billion from P7.9 billion a year earlier. Net income attributable to equity holders rose 8 percent to P1.953 billion from P1.815 billion due to an improvement in the performance of broadcast network ABS-CBN Corp.