Filinvest Development Corp., the listed investment holding company of the Gotianun Group, said Tuesday first-half net income jumped 77 percent year-on-year to P3.9 billion as its various business interests, from banking to power, continued their recovery from the pandemic.
It said first-half revenue increased 29 percent to P45 billion, matching the prepandemic level as banking, sugar and hospitality businesses turned in strong gains during the period.
“We are very encouraged by the continued recovery of our businesses. We look forward to sustaining our growth momentum for the balance of the year. We are working to make the businesses and the entire organization even stronger under the leadership of newly appointed executives in the business units and FDC, the parent company,” said FDC president and chief executive officer Chiqui Huang in a statement.
The company’s balance sheet remained healthy at the end of the first half of 2023, with total assets of P70 billion.
As a group, Filinvest has planned a total capital expenditure worth P35 billion, with half earmarked for the real estate and hospitality businesses. The balance will go to investments in new ventures including renewables, water and other urban solutions.
