EasyCall Posts 18% Net Income Growth in 1Q 2018

EasyCall Communications Philippines Inc. (PSE: ECP) posted an 18-percent increase in net income for the first quarter of 2018, building on its strong 2017 performance of 33% growth.

The company’s consolidated service income for the first quarter of the year stood at PhP15.13 million, over 23 percent higher than the same period last year.

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AUB Sustains Profitability in Q1 2018

The double-digit growth of its core lending businesses has enabled Asia United Bank (PSE: AUB) to sustain its robust financial performance in the first three months of the year compared with year-ago levels.

AUB and its subsidiaries, which include the Cavite United Rural Bank (CURB) and the Rural Bank of Angeles in Pampanga, posted a consolidated net income of PhP797.7 million for the first quarter of 2018, 21.3% higher than a year ago. This translated to a Return on Assets of 1.7% and Return on Equity of 12.2% versus year-ago ratios of 1.6% and 11.4%, respectively.

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DMCI Power Records 17% Revenue Growth in Q1

DMCI Power Corp. (DPC), the energy arm of DMCI Holdings Inc. (PSE: DMC), posted double-digit composite sales growth of 17 percent in the first quarter of 2018, with volume reaching 63GWh from 54GWh generated in the same period last year.

Palawan recorded a sales volume of 28GWh, a 29 percent surge from 21GWh last year. Masbate and Oriental Mindoro both showed a 9 percent uptick in dispatch. From 22GWh, the total sales volume in Masbate increased to 24GWh while Mindoro saw its dispatch improve from 10GWh to 11GWh.

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Megawide Reports 16% Jump in Q1 Net Earnings

Diversified engineering and infrastructure conglomerate Megawide Construction Corp. (PSE: MWIDE) has reported a consolidated net income of PhP635.8 million growth for the first quarter of 2018, up by 16% from the PhP549 million in the same period last year.

The double-digit increase in net profit was driven by the continued robust growth of the airport business segment, which now contributes 62% to the consolidated net earnings. The construction business segment accounted for the 38% balance of the total.

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New Holcim CEO John Stull to Focus on Operational Efficiency, Cost Management

Operational improvements, tighter cost management and new building solutions will continue to be prioritized by Holcim Philippines Inc. (PSE: HLCM) to better benefit from and support strengthening construction activity in the country, its top executive said during the company’s annual shareholders’ meeting on May 18.

Newly appointed President and CEO John Stull said the company plans to seize the opportunities from the ongoing construction boom by improving its ability to supply the market more efficiently and provide value-adding offerings to its partners in the building industry.

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COL Hits Record High Q1 Net Income

Online stockbroker COL Financial Group Inc. (PSE: COL) reported a record performance in the first quarter of the year as it continued to benefit from its investments in growing the retail market.

Net income for the quarter increased by 107.1% to PhP207.8 million as revenues surged while total costs increased at a slower rate. Revenues jumped 71.2% to a quarterly record of PhP365.7 million, primarily led by an 87.3% increase in commission revenues and the strong growth in interest income and trailer fees.

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DMCI Revenues Up 11% on Building Projects

D.M. Consunji Inc. (DMCI), the construction arm of DMCI Holdings Inc. (PSE: DMC), saw its first-quarter standalone revenues increase 11 percent year on year from PhP3.1 billion to PhP3.5 billion mainly driven by building contracts, as infrastructure projects suffered delays resulting from unresolved right of way issues.

Revenues from high-rise building projects surged 52 percent from PhP1.1 billion to PhP1.7 billion while infrastructure projects dipped 5 percent to PhP883 million compared to PhP930 million during the same quarter last year.

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Metro Pacific Announces DCWD Water Concession Joint Venture Project

On May 16, 2018, MetroPac Water Investments Corp. (MPW), a subsidiary of Metro Pacific Investments Corp. (PSE: MPI), officially received from Dumaguete City Water District (DCWD) the Notice of Award for the rehabilitation, operation, maintenance, and expansion of DCWD’s existing water distribution system and development of wastewater facilities.

MPW and DCWD shall enter into a joint venture agreement upon completion of the post award activities. A joint venture corporation shall be organized pursuant to the provisions set in the JVA. The joint venture corporation shall implement the Project including the right to bill and collect tariff for the water supply and wastewater services provided to the customers in the service area of DCWD.

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