PHINMA Corp. on Monday reported income over nine months this year rising 5 percent to P1.34 billion from last year’s P1.26 billion.
Consolidated revenue for the period also rose to P15.43 billion, 15 percent higher than last year’s P13.42 billion on record enrollment of its education business and consolidated revenue from strategic business units beginning July.
PHINMA Education Holdings Inc. had 146,546 new students in the first semester of school year 2023-2024, marking an18 percent growth in enrollment.
Revenue grew 38 percent to P3.96 billion from P2.86 billion last year.
Net income for the period totaled P968.11 million, 70 percent higher than only P568.05 million last year.
PHINMA Construction Materials Group, composed of Union Galvasteel Corp., Philcement Corp. and PHINMA Solar Energy Corp. reported combined revenue of P10.12 billion and combined net income of P361.05 million.
“This was fueled by the pick-up in construction activities in the third quarter after a slowdown in the first half of the year. Effective cost management also helped temper the impact from higher interest rates and a stronger dollar,” the company said.
PHINMA Property Holdings Corp., now 76.81 percent owned by Phinma Corp., posted consolidated net income for the period totaling P141.23 million. The company said this offset the equitized net loss of P83.95 million in the first half this year.
PHINMA Properties is expanding its product portfolio through new township projects that open synergy opportunities with its subsidiaries.
Following the acquisition of PHINMA Hospitality and PHINMA Microtel shares in July, PHINMA consolidated net earnings in the third quarter totaled P20.56 million in addition to equitized net income of Coral Way City Hotels of another P4.97 million in the first half.
Coral Way City Hotels own Microtel Hotel by Wyndham Mall of Asia and its wholly-owned subsidiary, Krypton Esplanade Hotel Corp. owns TRYP Hotel by Wyndham Mall of Asia.
PHINMA Hospitality, Inc. is the management company operating all the Microtel and TRYP by Wyndham properties in the Philippines. PHINMA Microtel Hotels, Inc. holds the master franchise of Microtel and TRYP by Wyndham in the country.
