Airport and ground services firm MacroAsia Corp. on Monday reported net income rising 72 percent to P337 million in the first three months of the year from P196 million in the same period last year.
“The significant improvement in net income was driven largely by business volume growth across all the Group’s business units,” MacroAsia said.
According to the company, revenue from in-flight catering and food services amounted to P1.05 billion and accounted for 48 percent of total consolidated revenue. The revenue hike was brought about by the increase in meals sold, from only 5.5 million in 2023 to 5.6 million meals in 2024.
Earnings from ground-handling and aviation services amounted to P975.6 million in 2024, an increase of 35 percent from P723.8 million in 2023.
Flights handled this year thus far totaled 49,281 flights, an increase of 12 percent from 44,056 flights in 2023.
The company’s water operations posted total revenue of P154.1 million, up 12 percent from P138 million in the same period last year.
“The revenues benefited from the increase in commercial water sales in Boracay as the island saw more visitors, and the growth in revenue contribution of Naic Water Services Corporation and Aqualink,” MacroAsia said.
Billed volume increased by 11 percent from 4.23 million cubic meters in 2023 to 4.70 million cu. m in 2024.
The connectivity and technology services company, Tera, posted revenue of P800,000.
“A service contract for data connectivity has been started by Tera in the last quarter of 2023. Due to changes in the project timeline, minimal revenue was recognized in the current year,” MacroAsia said.
The company’s consolidated operating expenses increased by 24 percent to P276.2 million from P222.7 million in 2023, aligned with the business volume growth.
