Vivant profit grows to P959 M in six months

Listed Vivant Corp. delivered high single-digit growth in earnings in the first half, driven by the stronger performance of its power generation business.

- By Brix Lelis

The Cebu-based company reported a net income of P959 million from January to June, up by nine percent against the P877 million a year prior.

Core earnings improved by 11 percent to P962 million, while revenues dropped three percent to P5.4 billion on lower power sales.

"The performance of Vivant Energy Corp., spurred by its participation in the reserve market primarily drove our earnings for the semester," Vivant CEO Arlo Sarmiento said.