Metro Pacific sees record profit
Infrastructure conglomerate Metro Pacific Investments Corp. expects full year core net income to hit a new record of P13.8 billion, up 14 percent from P12.1 billion posted in 2017 on the sustained growth of core subsidiaries.
The company also expects to resolve long tariff issues with the government to further boost the company’s earnings.
“I believe we are getting close to resolution with the government of at least some of the tariff issues that have held back growth in earnings in recent years,” Metro Pacific president and chief executive Jose Ma. Lim said.
“The government recognizes and values the extensive capital expenditures and service improvements we have made over many years and it respects the validity of our contracts,” Lim said.
Metro Pacific’s tollways unit recently obtained regulator’s approval for a provisional toll increase in North Luzon Expressway.
The company is still waiting for tariff rate adjustments of Cavite Expressway and Maynilad Water Services Inc.