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Meralco posts 169% surge in 2009 net profit to P7B.
Byline: Amy R. Remo
MANILA ELECTRIC CO., THE countrys biggest power distributor, said its consolidated core net income surged 169 percent to P7 billion in 2009 from last years P2.6 billion due largely to higher electricity sales.
The year has produced outstanding results for Meralco across a range of metricsprofit, cash flow, debt profile and operating efficiency indicators, said Meralco chair and CEO Manuel M. Lopez.
We remain committed to deliver value to all stakeholders through growth in our core income and revenue, capital management, and superior return on equity, he added.
Meralco said in a statement that the improvement in profitability …
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