Income of Metro Pacific Investments Corporation (MPIC)

Metro Pacific Investments Corporation (MPIC) announced that its has posted consolidated core net income of P2.94 billion for the first nine months of 2010, or 142 percent higher than the P1.21 billion for the same period in 2009.

It attributed its strong performance to the inclusion of the Manila Electric Company (Meralco) stronger contributions from most operating companies.

Consolidated reported net income, which reflects net foreign exchange gain and other nonrecurring losses of P347 million, stood at P2.59 billion for the first nine months this year, compared with P2.09 billion last year, an increase of 24 percent.

The improvement in core net income is attributable to higher profit contributions from Maynilad Water Services, Inc. (Maynilad) as a result of higher billed volume, Metro Pacific Tollways Corporation (MPTC) due to higher average daily traffic and Meralco for its first profit contribution.

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