Meralco says 2013 net income almost flat
The Manila Electric Co. (Meralco), the country’s biggest power utility, reported that its net income for full year ending Dec. 31, 2013 is almost flat at P17.21 billion compared to P17.12 previously.
Its core net income was P17.02 billion vs P16.27 billion, while revenues are at P298.64 billion from P285.27 billion.
Meralco is controlled by Hong Kong-listed conglomerate First Pacific Group via unlisted Beacon Electric Asset Holdings Inc. It is also partly owned by Philippine conglomerate, JG Summit Holdings Inc.