The Cebu-Cordova Link Expressway is a project of Metro Pacific Tollways Corp. (MPTC). PHOTO FROM MPTC WEBSITE
The Cebu-Cordova Link Expressway is a project of Metro Pacific Tollways Corp. (MPTC). PHOTO FROM MPTC WEBSITE

BUSINESS conglomerate Metro Pacific Investments Corp. (MPI) saw the price of its shares decreasing by 4.33 percent on Friday from its previous price on July 29, 2022, or from P3.69 to P3.53.

This is also on the back of the local consumer price index registering 6.4 percent at the end of July despite strong first-half company earnings made by listed firms.

Over a 52-week span, MPI's highest closing price was at P4.18 per share on Oct. 21, 2021 and its lowest closing price was P3.44 per share on July 4, 2022. Its "net income attributable to owners of the parent company" over the past three years were as follows: P23.86 billion in 2019; P4.75 billion in 2020; and P10.12 billion in 2021.

Recently, MPI announced it recorded a consolidated core net income of P7.5 billion for the first half of 2022, up 24 percent from P6 billion a year earlier.

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Improved financial and operating results of the constituent companies delivered a 15-percent increase in contribution from operations, mainly driven by a strong recovery in toll road traffic and growth in power consumption as more industries ramped up operating capacity.

Its power sector accounted for P5.9 billion or 60 percent of net operating income while the toll roads sector contributed P2.5 billion or 26 percent.

The conglomerate's water business, meanwhile, contributed P1.4 billion or 15 percent; and the other businesses, mainly real estate, hospitals, fuel storage and light rail, recorded a P35-million net loss.

According to the Philippine Stock Exchange directory, MPI was incorporated on March 20, 2006 as an investment holding company, which was then organized into the following segments based on services and products: power, toll operations, water, health care, rail, logistics and others.

The company's subsidiaries include Beacon Electric Asset Holdings Inc. through which it owns part of Manila Electric Co., Metro Pacific Tollways Corp., Maynilad Water Holding Co. Inc. and Metro Pacific Light Rail Corp.