Combined profits of PSE-listed firms up 4.4% YoY in 1H -PSE

PSE NEWS RELEASE
October 3, 2013

Listed companies revenue and income up in 1H of 2013

The consolidated revenues of listed companies increased 9.0 percent year on year to Php2.46 trillion. The combined profits of listed firms rose 4.4 percent for the first six months of 2013 to Php275.50 billion from last year’s Php263.79 billion as companies in the Financials, Property and Holding Firms sectors registered growth.
The net income of PSEi members grew 9.4 percent in the first half of the year. The 30 companies comprising the PSEi also accounted for 69.2 percent of the total market’s net profit.
The aggregate income of banks surged 61.7 percent in the January to June period boosted by robust trading gains. Issues in the property sector registered a 29.4 percent growth in net income due to higher real estate sales and rental income.
The Mining and Oil sector posted a 34.8 percent drop in its combined profit on lower earnings for most of the component companies and the suspension of some mining operations.
“Profit increase of listed firms are in a single digit range due partly to the absence of one-time gains and forex losses in some companies in the Industrial and Holding Firms sectors. The economic growth prospects still persist and remain compelling. The income growth of companies should continue as we approach the tailend of the year,” PSE President and CEO Hans B. Sicat said.

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