The Manila Electric Company (Meralco) expects to sustain its improving financial performance for the rest of the year after posting growth in core and net profits from January to June 2022 versus the same period last year.
THE Manila Electric Company expects to sustain its improving financial performance for the rest of the year after posting growth in core and net profits from January to June 2022 versus the same period last year.
Meralco chief finance officer Betty Siy-Yap said, “things are looking good” for the utility firm when asked if it can surpass last year’s core profit and revenues. He pointed out that while uncertainties and risks remain, “we expect that our country will raise the pace of economic recovery under the new government of President Ferdinand Marcos, Jr.,” as Meralco will be ready to support the growing power requirements of its customers and the government’s ramped up infrastructure projects and initiatives.
In the first half of the year, residential and commercial segments both accounted for 35 percent of the sales mix, showed signs of a shift back to the prepandemic mix, while industrial contributed 30 percent. “We will move ahead with the execution of sourcing strategies that include our planned CSPs , consistent with our Power Supply Procurement Plan, in a timely manner to ensure availability of cost-competitive power for our customers in the long-term,” Espinosa added.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
DepEd issues enrollment guidelines for SY 2022-2023Under DepEd order No. 35, the department reintroduced in-person enrollment, highlighting that minimum health and public safety standards must still be observed in schools across the country.
Read more »
QC announces traffic rerouting scheme for SONA 2022The Quezon City government on Sunday announced the in-city traffic rerouting scheme for President Ferdinand “Bongbong” Marcos’ first State of the Nation Address (SONA) on Monday, July 25.
Read more »
Review: 2022 Weltmeister W5 | CarGuide.PH | Philippine Car News, Car Reviews, Car Prices
Read more »
Loren Legarda's terno for SONA 2022 is over two decades old!Senator Loren Legarda unearthed a gem from the baul for President Ferdinand "Bongbong" Marcos Jr.&39;s first State of the Nation Address (SONA) on Monday.
Read more »
LIVE UPDATES: President Ferdinand Marcos Jr.'s first State of the Nation Address | SONA 2022Senator Imee wants her brother President Ferdinand Marcos Jr. to name the agricultural smugglers and corrupt customs and BIR officials in his SONA speech. Updates:
Read more »