Lopez Holdings

 

Lopez Holdings 1Q 2012 attributable net income at P2.634 billion

MANILA, Philippines - Lopez Holdings Corporation reported P2.634 billion in net income attributable to equity holders of the Parent for the first quarter of 2012. This is 192% higher than the P902 million in net income attributable to equity holders of the Parent reported in the first quarter of 2011. This was primarily due to the 826% year-on-year (YoY) increase in equity in net earnings of associates to P2.417 billion from P261 million, after associate First Philippine Holdings Corporation (FPH) sold a 2.66% stake (30 million shares) in Meralco in January 2012.
Unaudited consolidated revenues increased by 8% YoY to P7.149 billion from P6.593 billion as associate ABS-CBN Corporation (ABS-CBN) led national primetime TV ratings in 1Q2012 and implemented higher advertising rates beginning February 2012.

“Outside of election-related spending, we have not seen any significant expansion in Philippine ad spend for many years. This is why it was important for ABS-CBN to develop its consumer sales business. This business grew faster in the first quarter at 15%, compared to advertising revenues which grew 4%. As for FPH, its recurring net income increased by 164% showing the strength of its power generation portfolio. It is clear that earlier investments made by both ABS-CBN and FPH are now bearing fruit,” said Lopez Holdings president, chief operating officer and chief finance officer Salvador G. Tirona.

As of December 31, 2011, Lopez Holdings held a 60.3% economic interest in ABS-CBN and 46.6% in FPH.

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Lopez Holdings Corporation 
16/F North Tower, Rockwell Business Center Sheridan, Sheridan St. corner United St., 1550 Bgy. Highway Hills, Mandaluyong City, Philippines

  • Trunkline: (632) 8878 0000
  • Fax: (632) 8878 0000 ext 2009
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