Infrastructure conglomerate Metro Pacific Investments Corp. (MPIC) reported a 28 percent growth in net income from January to September this year on solid earnings contributions from its toll road, water, power generation, and healthcare businesses.
In a statement, MPIC said net income rose 28 percent to P8.2 billion from P6.5 billion a year ago, while consolidated revenues increased 8 percent to P27 billion from P25 billion previously.
The nine-month core net income was boosted by strong traffic growth on toll roads held by Metro Pacific Tollways Corp. (MPTC) and an increased shareholding in Manila North Tollways Corp. (MNTC), it said.
Revenues were also underpinned by higher billed volumes of Maynilad Water Services Inc. (Maynilad) and MPIC’s increased stake in power utility firm Manila Electric Company (Meralco) as well as continued growth in the Hospital Group.
By net operating income contribution, Meralco accounted for 39 percent or P3.9 billion; Maynilad contributed 36 percent or P3.6 bilion; tollroads contributed 22 percent or P2.1 billion, while the Hospital Group accounted for 3 percent or P319 million.