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Revenues of listed companies grew by 28.8% in H1 this year

THE consolidated revenues of companies listed in the Philippine Stock Exchange (PSE) rose 28.8 percent to P3.27 trillion, from P2.54 trillion in the same period in 2013.

Their combined first-half net income returned to the double-digit range from its single-digit slump in 2013, up 10.8 percent to P311.57 billion.

Five of the six sectors showed growth in their combined profits during this period led, by the Services sector, which posted the biggest increase in consolidated income of 43.3 percent to P46.61 billion.

The combined income of the Property sector grew 35.1 percent due to nonrecurring gains and the strong performance across the property development, commercial leasing and services businesses of real-estate firms. The Mining and Oil sector had a 31.5-percent improvement in its collective profit, as select mining and oil companies reported higher sales for the period.

The Holding Firms had a 22.7-percent increase and the Industrial sector a 16.8-percent increase in their consolidated earnings. Companies in the Holding Firms sector realized foreign-exchange gains and saw strong contributions from their business units, while Industrial Firms registered robust revenues and sales volume. “The growth in revenues and net incomes support the valuations that investors have been placing in our market. What the numbers essentially show is that the rise in our index is driven by strong fundamentals among our listed companies,” PSE President and CEO Hans B. Sicat said. The collective profit of PSEi-member-companies rose 9.9 percent in the first half of the year to P221.48 billion, accounting for 71.1 percent of the total market’s net income.

“The Asean integration will require that our companies be competitive both on the local front and regionally, as well. We hope that fortified operations domestically and the additional revenue stream from ventures overseas will help make our companies more profitable,” Sicat said.

BUSINESS MIRROR


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