THE combined net profits of listed companies grew 22.2 percent to P440.72 billion in 2010 against the P360.63 billion posted the year before, according to data from the annual financial statements that those firms filed with the Philippine Stock Exchange.
Those companies’ total revenue also rose, and by 20.4 percent to P3.24 trillion from P2.69 trillion, the Stock Exchange said.
The companies belonging to the PSE index, or PSEi, registered a much stronger growth of 48.1 percent in their combined net earnings of P286.53 billion.
“Corporate earnings reflect last year’s remarkable market performance and should follow the same positive trend in the first quarter given the healthy economy and favorable market movements,” Stock Exchange president and chief executive Hans Sicat said.
The PSEi remained positive as of the end of May, as it was up by 43.5 points or 1 percent to 4,244.64 points.
And the Mining and Oil sector posted the highest net-income growth of 273.9 percent due to the higher sales volumes from their new acquisitions.
Benguet Corp. recorded extraordinary earnings from the gain on settlement of liabilities and a non-refundable deposit from its Kingking project, while Philex Mining Corp. posted its highest consolidated operating revenue due to higher revenues from its gold and copper production.
Semirara Mining Corp. showed higher energy sales from its investment in SEM-Calaca Power Corp., while its coal revenues also grew due to higher sales.
The Holding Firms sector registered a 48.5-percent expansion in net income, which was driven by the robust contributions of its various companies’ subsidiaries.
Aboitiz Equity Ventures Inc. benefited from the profit contributions of Aboitiz Power Corp., while Universal Robina Corp. and Cebu Pacific Air both contributed to the higher earnings of their parent firm JG Summit Holdings Inc.
SM Investments Corp. also reported a higher net income, and due largely to its new store openings and the new condominium projects that lifted retail, real estate and rental sales.
Meanwhile, the Finance Sector’s net profit surged 43 percent as a result of higher trading and foreign exchange gains.
Security Bank Corp. reported a surge in revenue from its trading, securities and foreign exchange gains, while Bank of the Philippine Islands, Banco de Oro Unibank and Metropolitan Bank and Trust Company also reported trading gains.
The Property sector’s collective net income rose 23.2 percent due to the surge in real estate revenues, while the contributions from the new power plants and the sale of equity in affiliates boosted the net income of the Industry sector.
But the Services sector recorded a slight decrease in net income as a result of one-time gains in 2009 and the increase in the expenses of some companies in the sector. –Jenniffer B. Austria, Manila Standard Today
June 2025
Philippine Environment Month!
“Action for Nature, for the Future!”
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 #TakePicturesVideosturesVideos
Monthly Observances:
1 Jun – World Day of Parents
5 Jun – World Environment Day
7 Jun – World Food Safety Day
8 Jun – World Oceans Day
12 Jun – World Day Against Child Labour
15 Jun – World Elder Abuse Awareness Day
16 Jun – International Day of Family Remittances
17 Jun – World Day to Combat Desertification and Drought
20 Jun – World Refugee Day
25 Jun – Day of the Seafarer
27 Jun – Micro-, Small and Medium-sized Enterprises Day
Daily Observances:
June 6: Migrant Workers Day
June 19: Filipino Youth Day
June 25: Day of the Filipino Seafarer
