MacroAsia growth speeds up on new projects, infra buildup

Taipan Lucio Tan’s MacroAsia Corp. is projected to grow larger over the next few quarters as it bagged fresh contracts from foreign airlines and is completing new food and water projects.

- By ELIJAH FELICE ROSALES

In a disclosure to the Philippine Stock Exchange, MacroAsia said its profit rose by five percent to P1.02 billion in the nine months to September, from P975.9 million a year ago.

Revenue jumped by six percent to P7.41 billion, driven by the expansion in its in-flight catering, although this was partly mitigated by the 13-percent surge in expenses to P5.85 billion.

From the fourth quarter onward, MacroAsia expects the business to expand further, propelled by peak demand for air travel. The provider of aviation services bagged new contracts to supply in-flight meals to new carriers at the Ninoy Aquino International Airport (NAIA).