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Lopez Holdings earnings surge
April 21, 2025
|Manila Bulletin
Lopez Holdings Corp. reported a 123-percent surge in attributable net income to P6.34 billion last year, from the P2.85 billion earned in 2023, due to a lower equity share in the net losses of broadcast giant ABS-CBN Corp.
In a disclosure to the Philippine Stock Exchange (PSE), the firm said it achieved P39.62 billion in net sales for 2024, a 3.5-percent increase compared to P38.27 billion in 2023, reflecting positive contributions from the company’s ongoing expansion efforts and a solid 4.9-percent upturn in the food retail business.
Meanwhile, same-store sales grew modestly, by 0.5 percent compared to 2023, primarily influenced by slowing down low-margin wholesale transactions in 2024.
Blended gross margin was marginally lower at 21.4 percent, compared to 21.6 percent in 2023, mainly due to the company’s strategic decision to unwind aging stock earlier in the year and slightly higher share of business coming from food retail sales.
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