Anglo Phil net income up 91% to P561 million

MANILA, Philippines - Anglo Philippine Holdings Corp. registered a 91 percent jump in net income to P561 million in 2010 from P294 million in 2009, a record high in the company’s history.

EPS was booked at 48 centavos last year against 25 centavos in the previous year. The surge in net revenue arose from interest earned on advances to affiliated companies and mark to market appreciation in the value of its investments.

The board of directors of the company declared a cash dividend of five percent or five centavos per share to all shareholders of record as of April 8, payable on April 29, 2010. This is the seventh dividend declaration of the company since it started issuing stockholder payouts in 2007.

Anglo Phil is a listed holding company with key investments in natural resources through Atlas Mining and United Paragon Mining, and property development through Shang Properties and the Ayala-managed TriNoma shopping mall along North EDSA.

The company was one of the original proponents of the MRT 3 rail system running along the major traffic corridor of Metro Manila. The company is majority owned by the Ramos family of National Book Store.