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First Gen Q2 income rises 7.5% to P4.79 billion
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BusinessWorld Online
LOPEZ-LED First Gen Corp. saw its attributable net income rise 7.5% to P4.79 billion in the second quarter (Q2) from P4.45 billion a year earlier, as earnings from continuing operations strengthened alongside sharply higher revenue.
Consolidated net income rose 34.1% to P7.36 billion from P5.49 billion.
Net income attributable to noncontrolling interests more than doubled to P2.58 billion from P1.04 billion.
These declines were partly offset by EDC, whose attributable net income contribution rose 73.5% to P3.69 billion from P2.12 billion.
First-half consolidated net income, however, rose 7.1% to P12.82 billion from P11.96 billion, mainly due to higher net income contributions from EDC and FG Hydro.