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Aboitiz holding firm braces for 8.5% net income drop.
Byline: Franz Jonathan G. de la Fuente
HOLDING FIRM Aboitiz Equity Ventures, Inc. expects to end the year with an 8.5% profit decline from 2010 levels as performance in the second semester will be unable to match that from a year ago, a ranking official said last week.
The full-year net income of the firm with interests in the power and banking sectors, among others, is expected to total P20 billion based on analysts' estimates, Aboitiz Equity Ventures Chief Financial Officer Stephen G. Paradies said, lower than last year's P21.86-billion consolidated net income attributable to equity holders.
This comes as the firm already posted a profit drop in the first …
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