Electricity sales, strong dollar boost AboitizPower income

Aboitiz Power Corp.'s earnings grew by 24 percent in the first nine months of this year, gaining from higher energy sales and appreciation of the US dollar. In a disclosure, Aboitiz Equity Ventures Inc.'s flagship unit said its net income at the end of September climbed to P19.5 billion from the P15.7 billion posted in the same period a year prior. For the period, it realized non-recurring gains of P1.2 billion largely due to the stronger greenback against P36 million in non-recurring losses incurred last year. Without these one-off gains, AboitizPower said core net income was P18.3 billion, up by 17 percent from P15.7 billion. If not for the impact of Typhoon Odette, liquida...

Keep on reading: Electricity sales, strong dollar boost AboitizPower income

from INQUIRER.net https://ift.tt/gSNi8UT