Meralco profit grows 23% to P655M in quarter

Profits of Manila Electric Co. (Meralco) in the first quarter of 2008 rose 23.2 percent to P655 million from P532 million in 2007. Meralco attributed the growth to a sales increase of 1.9 percent to 6,156 gigawatthours (gWh) during the period. Capital expenditures in the first quarter amounted to P952 million compared to P1.29 billion in the same period in 2007. The commercial segment for the first quarter continued to lead in energy sales growth, increasing 4.1 percent to 2,388 gWh. Sales to the industrial segment grew 1.9 percent to 1,795 gWh for the period, led by the beverage, transport equipment manufacturing and basic metal sectors, which grew 13.7 percent, 13.2 percent and 7 percent, respectively. Earnings per share for the quarter rose 6.25 percent to P0.68 from P0.64 in 2007.

in Daily Tribune by Earl Paolo Jaculbe
May 6, 2008
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