MPIC books higher core income in H1

MANILA, Philippines — Conglomerate Metro Pacific Investments Corp. (MPIC) delivered higher core earnings in the first half despite a challenging environment, supported by strong results from its power and water businesses.

MPIC delivered a core net income of P16 billion in the first semester, up by six percent year-on-year from P15 billion in the same period last year.

Core profit excludes non-recurring income and expenses.

Reported net income attributable to equity holders, however, declined by five percent to P16.2 billion from last year’s P17 billion due to the gain on the sale of Philippine Coastal Storage & Pipeline Corp. in 2025.

During the first half, Manila Electric Co. recorded a 3.8-percent increase in consolidated core net income to P26.5 billion from P25.5 billion a year ago on the back of strong results from its power generation business.

The utility giant’s net income also rose by 11.3 percent year-on-year to P26.3 billion.

Maynilad’s net income, meanwhile, reached P8.51 billion during the first semester, 14 percent higher than last year’s P7.47 billion, buoyed by lower interest expenses and taxes.

Higher billed volumes and continued customer growth lifted its revenues by 4.1 percent to P19.11 billion.

NLEX Corp., a subsidiary of Metro Pacific Tollways Corp., reported a two percent net income improvement during the six-month period to P7.47 billion, driven by higher toll revenues and effective cost savings initiatives.

MPIC is an infrastructure investment company with holdings in Meralco, Maynilad, MetroPac Water Investments, Metro Pacific Tollways, Metro Pacific Hospital Holdings, Light Rail Manila Corp. and mWell PH.

The company seeks to create long-term value for all its stakeholders through responsible and sustainable investments that contribute to national progress and improve the quality of life in the communities it serves.