Conglomerate Aboitiz Equity Ventures Inc. (AEV) posted a 12 percent drop in net profit in 2013 as its power unit, which usually generates the bulk of its profits, reported lower earnings.
In its financial report, the listed conglomerate said its consolidated net income for 2013 went down by 12 percent to P21 billion from the P23.97 billion recorded in 2012.
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