Phinma H1 profit slumps 31% on lower investment gains

Listed firm Phinma Corp. reported a 31 percent year-on-year drop in net profit in the first half despite gains from its core businesses, citing lower investment income compared to last year.

Phinma said net income in the first half shrank to P127 million from P185 million in the same period last year while revenue inched up 7 percent to P2.7 billion.