Lopez Holdings nets P4.53 B

MANILA, Philippines - Lopez Holdings Corp. posted a double-digit jump in earnings last year on the back of one-time gains.

In a disclosure, the Lopez family’s holding firm said its net income climbed roughly 13 percent to P4.53 billion from P3.99 billion a year ago.

The company’s financial statement has yet to be released.

In January 2012, Lopez Holdings’ affiliate First Philippine Holdings Corp. (FPHC) sold a 2.66-percent stake in power distribution giant Manila Electric Co. to Pangilinan-led Beacon Electric Asset Holdings Inc. for P3.34 billion.

Lopez Holdings also benefited from FPHC’s P2.1-billion gain from its investment in upscale property firm Rockwell Land Corp.

To date, Lopez Holdings is into media (ABS-CBN), cable television (SkyCable Corp.), telecommunications (Bayan Telecommunications Inc.), power generation and distribution (FPHC and First Gen Corp.), and real estate development (Rockwell).

Formerly Benpres Holdings Corp., the company was created in 1993 as the holding company for the Lopez family’s investments in major development sectors.

It has since sold its interest in banking, toll roads, information technology, property development and health care delivery.