Infrastructure conglomerate Metro Pacific Investments Corp. (MPIC) expects its full year core net income to “approach” the 2019 pre-pandemic level of slightly above P15 billion despite the current economic headwinds. Read more:
MPIC president and chairman Manuel Pangilinan said in a press briefing Wednesday core net income in 2022 would be better than the previous year’s level of P12.3 billion as core businesses were showing positive results at the start of the second half of the year.
“We believe the full year would definitely be better than last year and I would hope that 2022 full year would at least approach what we accomplished in 2019 pre-pandemic which was slightly above P15 billion for income,” he added. Power accounted for ₱5.9 billion or 60 percent of net operating income, followed by toll roads, which contributed ₱2.5 billion, and water which accounted for ₱1.4 billion.
Meanwhile, Pangilinan said MPIC remains keen on acquisitions, particularly in the areas of agriculture, tourism and logistics.
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