April 11, 2013

MPIC net income up 28%

From a PSE disclosure: The company’s revenues increased by 26% to P27,807 M in 2012, reflecting improved performance of the Company’s major operating subsidiaries, Maynilad and MPTC, plus growth from hospital group. Maynilad posted a 15% increase in revenues brought about by 7% billed volume growth coupled with 9.6% and 1.98% tariff increase in January and August, respectively.

MPTC posted 5% higher revenues mainly due to 3% higher average daily vehicle entries. Hospital revenues increased significantly by 34% due to the full year impact of consolidation of Cardinal Santos and Asian Hospital which started in fourth quarter of 2011. Consolidated core income increased by 28% to P6,530 M in 2012.