Aceph swings to profit, earns P1.96B

AC Energy Philippines Inc. (Aceph) reported on Wednesday a net income of P1.96 billion in the first six months of 2020, which it called “a significant turnaround” from its P552-million loss incurred last year.

In a disclosure, the power business of Ayala Corp. said the latest bottomline “was mainly driven by the successful infusion of AC Energy Inc.’s on-shore assets and recent acquisitions.”