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Lopez Holdings income up 54%

Lopez Holdings income up 54%

Lopez Holdings reported a 54-percent growth in net income in the first nine months to P6.1 billion, as revenue went up 9 percent to P99.8 billion.

It owns about 51 percent of First Philippine Holdings, a listed power and property company, and a 56-percent economic interest in ABS-CBN Corp.

The company gained as First Philippine Holdings and ABS-CBN recorded strong earnings during the nine-month period of 2019.

The firm, which owns power giant First Gen Corp., said net income in the nine months to September jumped higher by 35 percent to P9.6 billion.

Revenue rose 9 percent to P99.767 billion, driven by electricity sales, which went up 10 percent.