JFC Net Income Up 33%
Philippines' largest food service company Jollibee Foods Corporation (PSE:JFC) reported Net Income Attributable to Parent Company of P921 Million for 2Q2012, up 33% from P693 Million same period last year. The increase was attributed to foreign business growth most notably in US and Asia. Full report can be viewed here.
GMA Gross Revenues Up 1%
Media company GMA Network, Inc. (PSE:GMA) registered 6.79 Billion consolidated gross revenues for 2Q2012, up by P64 Million or 1% from last year. Net income after tax is P1.014 Billion, on rack to its full year target of P2 Billion. Full report can be viewed here.
MEG 1st Half Net Income Up 15%
Property developer Megaworld Corporation reported core net income of P3.69 Billion for the 1st half of 2012, up 15% from P3.21 Billion from previous year. The growth was due to continued strength in its residential sales and BPO office rentals. Full report can be viewed here.
FLI Net Income Up 19%; No Longer Bidding for FTI
Property developer Filinvest Land, Inc. (PSE:FLI) announced net income of P1.525 Billion, up 19% from P1.282 Billion generated same period last year. The growth was mainly due to the 28% increase in real estate sales.
In a separate disclosure, the company announced in will no longer participate in the bidding for the 74-hectare FTI Property in Taguig. Management stated that acquiring said property at this time did not fit wtih its land banking strategy.
SM Posts 13% Growth 1st Half
Conglomerate company SM Investments Corporation reported P10.9 Billion net income from P9.6 Billion same period last year, equivalent to 13% growth. The increase was driven by strong earnings in residential segment, banks and mall operations. Full report can be viewed here.
Atlas Core Income Reach P1.66 Billion
Atlas Consolidated Mining & Development Corporation reported core income of P1.66 Billion, 72% higher than last year. The improvement is attributed to rise in copper production and higher throughput.