Corporate

Philex Mining Corp., the country’s largest gold producer, said Friday net income in the second quarter dropped 32 percent year-on-year to P214.7 million, weighed down by other charges such as foreign exchange losses and interest expense.

Concepcion Industrial Corp., a leader in consumer lifestyle and enterprise solutions, said Thursday net income in the second quarter nearly doubled on the back of effective sales strategies, enhanced customer engagement, and favorable market conditions exacerbated by hot weather.

PXP Energy Corp. said Thursday it narrowed first-half net loss on higher oil production from the Galoc field and average crude oil prices, reduced overhead expenses and lower net interest expenses.

Fast food giant Jollibee Foods Corp. on Thursday ruled out bringing the recently-acquired South Korean Compose Coffee brand to the Philippines over the next few years, preferring instead on focusing on growing the brand’s market share in its home country.

ilinvest Hospitality Corp., a unit of listed Filinvest Development Corp., has secured a 730-square-meter prime property in Baguio City that was offered in a bidding by the Bases Conversion and Development Authority and John Hay Management Corp.