Corporate

Cebu Air Inc., operator of the Gokongwei Group’s budget carrier Cebu Pacific, is raising its stake in 1Aviation Groundhandling Services Corp. by converting the majority of the loans it extended to certain shareholders of the airline service affiliate.

Concepcion Industrial Corp., a leading provider of consumer lifestyle and enterprise solutions, on Tuesday reported a 57 percent increase in third-quarter net profit to P218.2 million, highlighting the strength of its operations and improved margins despite modest revenue increases. 

Metropolitan Bank & Trust Co., the country’s largest lender, said Tuesday that nine-month net income rose 12 percent to a record P35.7 billion, driven by robust asset expansion, a recovery in non-interest income, and improved asset quality. 

Maynilad Water Services Inc. has signed a memorandum of understanding (MOU) with the Caloocan local government unit (LGU) to enhance water management and minimize water loss over the next three years.

The Manila Electric Co. (Meralco) on Monday announced a robust 17 percent increase in core net income for the first nine months of 2024, reaching P35.1 billion versus only P30.02 billion in the same period last year.