AEV posts higher 9-month income

Higher contributions from its power and banking units buoyed earnings of Aboitiz Equity Ventures Inc. (AEV) in the nine-month period ending September.

- By RICHMOND MERCURIO

From January to September, AEV posted a four-percent rise in consolidated net income to P18.8 billion from P18 billion in the same period in 2023.

The company's core net income, which excludes non-recurring foreign exchange losses of P20 million, stood at P18.8 billion, up by nine percent from last year's P17.3 billion.

"Our third-quarter results reflect not only the strength of our diversified businesses but also the positive momentum we are seeing in the broader economy," Aboitiz Group president and CEO Sabin Aboitiz said.