CIC Q1 Earnings Jumps 19%

Manila—(PHStocks)—Concepcion Industrial Corp. (PSE: CIC) has announced PhP218 million in net income after minority interest for the first three months of 2017, a 19% increase from year-ago figures on the back of a top-line growth of 15% to PhP3.1 billion in Q1.

The 15% jump in sales for the first quarter was primarily driven by 14% growth in the Consumer Lifestyles Solutions segment as well as 17% increase in the Building and Industrial Solutions. The demand for inverter units and strong commercial order growth continue to push the momentum in the run up to the summer season.

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SM Prime Sets Interest Rates for PhP15 Billion Retail Bonds

Pasay—(PHStocks)—SM Prime Holdings Inc. (PSE: SMPH) has set the interest rates for its Peso-denominated Series G, 7-year retail bonds at 5.1683% p.a last May 2. SM Prime issued an aggregate principal amount of PhP15 billion of the Series G bonds, with an option to issue an additional amount of up to PhP5 billion. The retail bonds will be offered by SM Prime to investors through underwriters from May 4 to May 11, following the receipt of the Permit to Sell from the Securities and Exchange Commission. The retail bonds are set to be issued on May 18.

“The proceeds of the retail bonds will enable SM Prime to pursue our expansions of mall and residential businesses, which are the growth drivers of the company,” SM Prime President Jeffrey C. Lim said.

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PBB Expands Loan Portfolio to PhP55.4B

Caloocan—(PHStocks)—Philippine Business Bank (PSE: PBB) reported a net interest income of PhP682.7 million for the first quarter of 2017, up 15.8% versus PhP589.4 million in the same period last year. The Bank’s pre-tax pre-provision profit expanded by 12.2% to PhP234.6 million versus the PhP209.2 million of the previous year. Interest income from loans and other receivables sustained a 23.1% growth ending the first three months of 2017 at PhP781.9 million from PhP635.3 million in 2016 as loan volume continued to increase.

PBB ended March 2017 with PhP55.4 billion in total loans and receivables from PhP40.8 billion in March 2016, a 35.8% growth. In effect, total resources increased by 18.4% reaching PhP73.2 billion during the first quarter of 2017.

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Petron 2016 Sales Hit Record Highs; Net Income Reaches PhP10.8B

Mandaluyong—(PHStocks)—The Philippines’ largest oil refining and marketing company Petron Corp. (PSE: PCOR) sustained its strong performance posting a consolidated net income of PhP10.8 billion in 2016, a 73% increase from the previous year’s earnings of PhP6.3 billion.

The company’s robust performance was driven by record sales volumes, operational efficiency with increased crude run at higher product yields, and effective risk management.

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Ayala Net Income Climbs to ₱26B

Makati—(PHStocks)—Ayala Corp. (PSE: AC) reported a net income of ₱26 billion in 2016, 17 percent higher than the previous year, on the back of double-digit growth contributions from its real estate and banking units, boosted by its emerging businesses in power and industrial technologies.

This positive earnings momentum was driven by the robust equity earnings contribution from Ayala business units, which expanded 14 percent from its year-ago level, to ₱32 billion. Equity earnings from the Bank of the Philippine Islands (PSE: BPI) and Ayala Land Inc. (PSE: ALI) jumped 19 percent and 18 percent, respectively. Meanwhile, equity earnings from AC Energy soared 27 percent, while equity earnings from AC Industrials grew 51 percent as its automotive business surged nearly fivefold during the year.

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ICTSI Net Income Surged 207% to $180M

Manila—(PHStocks)—International Container Terminal Services Inc. (ICTSI, PSE: ICT) reported audited consolidated financial results for the year ended December 31, 2016 posting revenue from port operations of US$1.128 billion, seven percent higher compared to US$1.051 billion last year, Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of US$525.1 million, 17 percent better than the US$450 million generated the previous year, and reported net income attributable to equity holders of $180 million, up 207 percent compared to the US$58.5 million earned in 2015. Fully diluted earnings per share for the period surged 491 percent to $0.065 from $0.011 in 2015.

In 2016, the company recognized a non-recurring charge of US$23.4 million on the pretermination of the lease agreement at ICTSI Oregon Inc., the company’s terminal in Oregon, USA. In 2015, the Company recognized non-recurring items such as the gain on the sale of the terminal in Naha, Japan, impairment charges on the concession rights assets of Tecplata S.A. in Buenos Aires, Argentina, and the goodwill of PT ICTSI Jasa Prima Tbk and PT OJA in Jakarta, Indonesia, of $0.3 million, $88 million and $26.6 million, respectively. Excluding these non-recurring items, recurring net income would have increased 18 percent to $203.4 million from $172.8 million in 2015.

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Aboitiz Equity Ventures Grows 2016 Full-year Profit by 27% to PhP22.5B

Taguig—(PHStocks)—Aboitiz Equity Ventures Inc. (PSE: AEV) saw its consolidated net income increase by 27% year-on-year (YoY) from PhP17.7 billion in 2015 to PhP22.5 billion in 2016. This translates to PhP4.02 in earnings per share. Power accounted for 65%, followed by the Banking and Financial Services, Food, Infrastructure, and Land strategic business units (SBUs) with income contributions of 21%, 7%, 7% and 1%, respectively.

For the period ending December 31, 2016, the company incurred a non-recurring loss of PhP347 million (versus the previous year’s loss of PhP602 million), which mainly resulted from the mark-to-market revaluation of the Power BUs’ consolidated dollar-denominated assets and liabilities refinancing costs and goodwill impairment, partly offset by the net forex (foreign exchange) gains from revaluation of dollar-denominated assets and liabilities. Adjusting for these one-off’s, AEV’s core net income amounted to PhP22.8 billion, which was 25% higher than last year.

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Crown Asia Chemicals to Launch PVC Roofing

Bulacan—(PHStocks)—Publicly listed Crown Asia Chemicals Corp. (PSE: CROWN), manufacturer of high grade PVC compounds and world class Crown PVC, Crown PP-R and HDPE pipes and fittings, gears up to add uPVC (unplasticized Polyvinyl Chloride) roofing to its portfolio of premium products.

The new Crown uPVC long-span and ASA (Acrylic Styrene Acrylonitrile) type roofing materials are expected to be launched during the second half of 2017.While both have built-in UV Protection, the ASA type even doubles the UV Protection advantage.

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