THE combined net earnings of the listed firms declined by 7 percent to P219.66 billion in the year through June from P236.23 billion the year before as a result of costlier inputs, the Philippine Stock Exchange reported Thursday.
Still, their combined revenue grew 15.3 percent to P1.85 trillion from P1.60 trillion, the exchange said in a statement.
“Despite the modest growth in listed companies’ revenues for the period, net profits have decreased overall due to several factors including higher input prices, which may have led to increased expenses,” Stock Exchange president and chief executive Hans Sicat said.
“Consumer demand also seems to have slowed down as a result of these price pressures, along with the cautious sentiment over adverse developments in the global markets.”
The Industrial Sector posted the biggest decline in combined net income at 31.1 percent, and due largely to a higher base registered by some firms the previous year, which came from one-time gains such as that of First Philippine Holdings Corp.’s
Lower sales volumes and average selling prices also affected the net earnings of Energy Development Corp. and Aboitiz Power Corp. First Gen Corp., on the other hand, posted lower equity in the net earnings of its associates.
The Holdings Firms sector registered a 10.3-percent decline in consolidated net earnings, and mainly as a result of the lower net earnings of the associates or subsidiaries of companies such as Lopez Holdings Corp., JG Summit Holdings and Aboitiz Equity Ventures. –Jenniffer B. Austria, Manila Standard Today
It’s women’s month!
“Support women every day of the year!”
Invoke Article 33 of the ILO constitution
against the military junta in Myanmar to carry out the 2021 ILO Commission of Inquiry recommendations against serious violations of Forced Labour and Freedom of Association protocols.
Accept National Unity Government
(NUG) of Myanmar.
Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideos
Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week
Women’s Week
Week 3: Philippine Industry and Made-in-the-Philippines
Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
Mar 4— Employee Appreciation Day
Mar 15 — World Consumer Rights Day
Mar 18 — Global Recycling Day
Mar 21 — International Day for the Elimination of Racial Discrimination
Mar 23 — International Day for the Right to the Truth concerning Gross Human Rights Violations and for the Dignity of Victims
Mar 25 — International Day of Remembrance of the Victims of Slavery and the Transatlantic Slave Trade
Mar 27 — Earth Hour
