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Cebu airport drives Megawide earnings higher

MEGAWIDE Construction Corp. delivered an 8% improvement in its attributable profit for the first three months of 2018, driven by the double-digit top-line growth...

Cirtek nets $1.94 million in Q1

CIRTEK Holdings Philippines Corp. (CHPC) grew its net income by 14% in the first quarter of 2018, driven by a double-digit increase in revenues...

Emperador aims to grow sales volume by 30-35% this year

By Arra B. Francia, Reporter EMPERADOR, Inc. targets a 30-35% growth in sales volume for its Fundador brand this year, amid its efforts to encourage...

Shares decline further as trading volume thins

LOCAL EQUITIES fell on Monday due to thin trading, as investors stayed on the sidelines due to the high bond yields overseas. The benchmark Philippine...

8990 sets P4.3-B profit target

By Arra B. Francia, Reporter MASS HOUSING developer 8990 Holdings, Inc. is aiming to net around P4.31 billion in 2018, banking on the launch of...

Meralco, First Pacific weighing options for Singapore power plant

METRO PACIFIC Investments Corp. Chief Finance Officer David J. Nicol said the group is assessing options for a liquefied natural gas (LNG) power plant...

Alsons’ proposed commercial paper issuance gets PRS A plus rating

LOCAL DEBT watcher Philippine Rating Services Corp. (Philratings) has assigned a PRS A plus rating to Alsons Consolidated Resources, Inc. (ACR) for its proposed...

Stocks to move within tight range after results

THE MAIN INDEX may continue to trade in a tight range this week as investors look at whether companies can sustain their growth momentum...

MPIC power businesses target 1,600-MW hike in capacity by 2022

THE power units of Metro Pacific Investments Corp. (MPIC) will be expanding their capacity by around 1,600 megawatts (MW) until 2022, with plans to...

SM opens 4th Pampanga mall in provincial push

SM PRIME Holdings, Inc. is expanding its presence in Pampanga with the opening of its fourth mall in the province on Friday (May 18). In...

Revolution Precrafted to supply villas for Puerto Azul project

REVOLUTION Precrafted Properties Philippines, Inc. has been tapped by Boulevard Holdings, Inc. (BHI) for an integrated resort project in Cavite that is expected to...

PSE net income declines by 40% in Q1

THE Philippine Stock Exchange, Inc. (PSE)’s net income fell by 40% in the January to March period, due to lower listing-related fees and higher...

Property companies deliver mixed results in Q1

By Arra B. Francia, Reporter SOME property developers in the country reported mixed results for the first quarter of 2018, amid sustained demand for residential...

PSEi declines to 7,600 level on higher US yields

THE MAIN INDEX fell back to the 7,600 level on Thursday as investors moved out of equities in favor of higher Treasury yields. The bellwether...

CPG, Mitsubishi form JV for affordable housing

By Arra B. Francia, Reporter CENTURY Properties Group, Inc. (CPG) has partnered with Japan’s Mitsubishi Corp. for the establishment of a company that will develop...

Filinvest net income rises 27%

FILINVEST Development Corp. (FDC) delivered a 27% increase in its net income attributable to the parent for the first quarter of 2018, driven mainly...

8990 Q1 profit hits P1B

EARNINGS of 8990 Holdings, Inc. grew by more than a third in the first quarter of 2018, fueled by the delivery of more housing...

Xurpas unit plans $100-M coin offering

A UNIT of Xurpas, Inc. will be raising $100 million through a coin offering to fund its project that seeks to provide free Internet...

Cebu Landmasters Q1 earnings rise 17%

CEBU Landmasters, Inc. (CLI) reported a double-digit increase in earnings for the first three months of 2018, driven by higher revenues due to the...

PSE index slips on US yields, geopolitical tension

STOCKS FELL on Wednesday, following the downtrend in regional markets caused by rising US Treasury yields along with fresh geopolitical tension in the region. The...

Conglomerates deliver mixed Q1 results, but outlook remains positive

By Arra B. Francia Reporter CONGLOMERATES are expected to register better financial results this year, as the country’s top firms proceed with expansion programs amid a...

SEC clears DM Wenceslao’s P15.5-B initial public offering

THE Securities and Exchange Commission (SEC) has cleared property developer D.M. Wenceslao and Associates, Inc.’s application to raise around P15.5 billion in an initial...

DoubleDragon income soars in Q1

By Arra B. Francia, Reporter EARNINGS of DoubleDragon Properties Corp. soared 349.4% in the first quarter of 2018, riding on the back of higher recurring...

Ayala Land to form JV for projects in Aurora, Quezon

AYALA LAND, Inc. (ALI) is teaming up with two companies headed by businessman Romeo G. Roxas for two projects in Aurora and Quezon province. In...

CPG eyes P13B from Batulao Artscapes Phase 2

CENTURY Properties Group, Inc. (CPG) expects to generate around P13 billion from sales of the second phase of its Batulao Artscapes project in Nasugbu,...

Corporate Earnings Roundup (05/16/18)

7-Eleven PHL’s sales get boost from TRAIN law PHILIPPINE Seven Corp. (PSC) saw its profits jump 20.5% in the first quarter, driven by higher sales...

Shares up on continued optimism after BSP move

STOCKS JUMPED on Tuesday as investors remained optimistic on the rate hike implemented by the central bank last week. The 30-member Philippine Stock Exchange index...

SBS Philippines profit declines in first quarter

SBS Philippines Corp saw its profit decline by a third in the first quarter of 2018, following higher finance costs and its share in...

Stocks rally as investors remain optimistic

Stocks jumped on Tuesday, May 15, as investors remained optimistic on the rate hike implemented by the local central bank last week. The 30-member Philippine...

Vista Land to turn 23 projects into ‘communicities’

VISTA LAND and Lifescapes, Inc. (VLL) is looking into turning 23 existing projects into larger mixed-use developments it calls “communicities,” a top official said. “We’re...

Develop ‘livable’ communities, property firms told

By Arra B. Francia Reporter “LIVABLE COMMUNITY” isn’t exactly what comes to mind when you see the congested spaces in Metro Manila. With land becoming scarcer...

SEC drafts guidelines for ASEAN green bonds

THE SECURITIES and Exchange Commission (SEC) will be issuing guidelines for the issuance of ASEAN (Association of Southeast Asian Nations) Green Bonds in the...

Lay Bare aims to triple store network in 5 years

By Arra B. Francia, Reporter HOMEGROWN SALON chain Lay Bare is bringing accessible waxing services to Southeast Asian countries, targeting to triple its current size...

Stocks to climb as investors go bargain hunting

STOCKS are seen to rise in the week ahead as investors look for bargains amid the shortened trading week. The bellwether Philippine Stock Exchange index...

Puregold: Pace of Lawson expansion was too slow

By Arra B. Francia Reporter PUREGOLD PRICE Club, Inc. chose to divest from the Lawson chain of convenience stores after its Japanese partner failed to deliver...

Anchor Land breaks ground for P1.5-B Cosmo Suites

ANCHOR LAND Holdings, Inc. is venturing into the “bedspace” business, starting with the development of a P1.5-billion project in the Bay Area that looks...

PSE index gets boost from BSP rate hike decision

By Arra B. Francia Reporter THE Philippine Stock Exchange index (PSEi) got a boost from the local central bank’s decision to hike interest rates last week,...

Ayala Q1 profits hit P7.7B

By Arra Francia, Reporter THE real estate and power units of Ayala Corp. (AC) boosted its earnings for the first quarter of 2018, with net...

San Miguel Food and Beverage expects to earn P33 billion in...

SAN MIGUEL Food and Beverage, Inc. (SMFBI) — previously known as San Miguel Pure Foods Co., Inc. — is expected to generate P33 billion...

Tabacco, banking boost LT Group’s Q1 profits

THE attributable profit of the LT Group, Inc. (LTG) jumped by 61% in the first quarter of 2018, boosted by its tobacco and banking...

Shakey’s earnings up 6% in Q1

SHAKEY’s Pizza Asia Ventures, Inc. (SPAVI) reported single digit growth in earnings for the first quarter of 2018, but remains positive for the rest...

SSI earnings fall in Q1

EARNINGS of the SSI Group, Inc. fell in the first three months of the year, dragged by the weakening peso despite a single-digit growth...

SMC recurring profit up 31% in 1st quarter

SAN MIGUEL CORP. (SMC) grew its consolidated recurring profit by a third in the first quarter of 2018, fueled by the performance of its...

GT Capital implements Metro Park master plan

By Arra B. Francia, Reporter GT CAPITAL HOLDINGS, Inc. is now implementing the master plan for its 40-hectare mixed use estate in the Bay Area...

Vista Land Q1 earnings jump 13% on higher reservation sales

VISTA LAND and Lifescapes, Inc. (VLL)’s attributable profit grew by 13% in the first three months of 2018, supported by its residential business alongside...