Listed First Philippine Holdings Corp. (FPH) reported on Thursday a 15.2-percent increase in its attributable recurring net income (RNI) to P11.98 billion last year from P10.4 billion in 2018. During the diversified conglomerate’s virtual stockholders’ meeting, FPH President Francis Giles Puno said stronger operating results in its clean energy, real estate and construction businesses drove the growth. With the increase in recurring revenues, FPIP recorded a consolidated RNI of P172 million, 11 percent better than P155 million in 2018. For the first quarter, the holding firm’s consolidated RNI was 13 percent lower. The construction group is experiencing deferrals and delays in a number of construction projects slated for this year,” he said.

Source: Manila Times July 30, 2020 18:21 UTC