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Aboitiz Group
MANILA, Philippines — Conglomerate Aboitiz Equity Ventures Inc. (AEV) nearly doubled its first-quarter consolidated net income to P6.3 billion, driven by strong contributions from its energy and banking businesses.
The figure marked a 96.9-percent jump from the P3.2-billion bottom line in the same period last year, even as the latest results included P43 million in nonrecurring items.
In a disclosure on Wednesday, AEV said power remained the main earnings driver, accounting for 56 percent.
