Infrastructure conglomerate Metro Pacific Investments Corp. (MPIC) expects to boost core income this year by 17.6 percent to P12 billion and return to prepandemic earnings level by next year as the domestic economy further reopens with the rollout of COVID-19 vaccines.
In 2020, the conglomerate led by businessman Manuel Pangilinan saw a 34-percent decline in core income to P10.2 billion as pandemic-related lockdown measures cut toll road traffic and corporate demand for utilities and disrupted light railway transit (LRT) operations.
But green shoots of recovery were spotted in the fourth quarter of 2020, as MPIC’s core earnings improved by 4 percent to P2.5 billion from the third q…
Keep on reading: In this ‘transition’ year, recovering MPIC targets P12-B income