PSE Market Summary:
The Philippine Stocks Market was down for the second day, closing slightly lower at 5,451.09. Total trades were down to 21,826 with 81 stocks advances, 67 declines and 51 stocks unchanged.
SMC Confirms talks with Cayman Airways
San Miguel Corporation (PSE:SMC) confirmed they are in talks with the Government of Cayman Islands to pursue a possible investment in Cayman Airways. SMC is said to have offered $25 million which will give them 49% controlling interest should the negotiations push through.
JFC Profits Up 19%
Jollibee Foods Corporation (PSE:JFC) reported net income of P881.7 million for the third quarter of 2012, up by 18.9% from same period last year. Main drivers were sales growth in businesses overseas. JFC shares closed at P105.7 per share, up by P.70 for the day.
RFM Declares Cash Dividend
RFM Corporation (PSE:RFM) declared cash dividend as follow:
cash = P.02434 per share
ex-date = Nov. 23, 2012
record date = Nov. 28, 2012
payment date = Dec. 26, 2012
FLI Net Income Increase 18%
Filinvest Land, Inc. (PSE:FLI) announced its net income for the first nine months of 2012 roseby 18% to P1.967 billion, up from P1.661 billion generated same period last year. The growth was fueled by increase in real estate sales. FLI stocks were down P.1 to 1.58 per share.
SECB Net Income Up 55%
Security Bank Corporation (PSE:SECB) reported an increase in third quarter results to P6.2 billion, up by 55% from same period last year. The result was mainly driven by growth in loans portfolio and deposits. SECB shares closed at P161.90, down by P.10 for the day.
PNX Posts 19% Growth
Phoenix Petroleum Philippines, Inc. (PSE:PNX) posted a 19% growth in revenue to P24.90 billion in the first nine months from P20.90 billion last year. PNX stocks were up P.07 to P8.55 per share.