ATRKE posts P1.6B in revenues

MANILA, Philippines - ATR KimEng Financial Corp. (ATRKE Financial) has realized total consolidated revenues of P1.6 billion, while consolidated assets stood at P6.5 billion after the first six months of 2011.

Thus, consolidated net income rose by 82 percent to P253.3 million in the same period versus the P139.2 million last year.

Subsidiary ATR KimEng Capital Partners Inc. (ATRKE Capital), showed a 1,477-percent increase from P5 million to P79.3 million. Increase in fees was attributed to a number of equity issues, including San Miguel Corporation’s secondary offer.

Stock brokerage firm ATR KimEng Securities Inc. (ATRKE Securities) reported a 33-percent increase in commissions to P313.8 million.

ATR KimEng Asset Management Inc. (ATRKE Asset Management) and the Trust Department of ATRKE Capital, had combined assets under management of P10.56 billion, up 79.8 percent from last year’s P5.88 billion.

The group’s insurance subsidiaries, AsianLife & General Assurance Corp. and AsianLife Financial Assurance Corp. contributed the most in terms of revenues, which totaled about P1 billion, a 13-percent increase over last year. 

Real estate group ATR KimEng Land Inc. continued to post positive results with total real estate sales of P51.3 million, an improvement of 156 percent from the P20.1 million in the first semester of last year.  

ATRKE Financial president Manuel Tordesillas is confident that the firm can sustain its positive performance for the rest of the year. 

“Our business segments look to take full advantage of the country’s improving economy, which is expected to grow further this year and in 2012,” Tordesillas added.