August 04, 2013

Aboitiz Equity Ventures posts P11.7-B H1 income

Aboitiz Equity Ventures Inc.’s consolidated net income declined 15% to P5.1 B in the April to June period compared with a year ago due to losses from revaluation of dollardenominated liabilities. However, core income rose 6% to P6.2 B in the second quarter.

Even with the drop in second quarter earnings AEV managed to post P11.9  B in consolidated net income in the first half, up 1% from P11.8  B a year ago. The power business accounted for 74% of total earnings, followed by banking, food and property at 19%, 6% and 1%, respectively. - WealthSec