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MacroAsia Q2 income down 12.4% on higher expenses
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BusinessWorld Online
LISTED aviation-support provider MacroAsia Corp. saw its attributable net income fall 12.4% to P320.55 million in the second quarter (Q2) as expenses grew faster than revenue.
For the January-to-June period, MacroAsia’s attributable net income fell 33.9% to P449.60 million from P679.69 million a year earlier despite higher revenue.
The in-flight and catering segment generated P2.63 billion in first-half revenue, while ground handling and aviation services contributed P2.20 billion.
The company said it will pursue customer rate adjustments, recover higher airport-related costs, improve supply-chain initiatives, and tighten management of manpower and operating expenses.
“The Group will continue to execute its diversification and growth initiatives across food services, aviation support, MRO, water infrastructure and shared services.