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Byline: Neil Jerome C. Morales
Profits of listed Phinma Corp., formerly Bacnotan Consolidated Industries, Inc., fell by a third to P221 million from January to September.
Losses were recorded in oil exploration and animation units but earnings were posted by educational, steel manufacturing, and property businesses.
For the entire year, the holding firm expects profits to stay within last year's P300-million record.
"Consolidated net income of the company for the period of January to September amounted to P221 million, of which P200.8 million is income attributable to equity holders of the parent," Phinma said in a disclosure yesterday.