MANILA, Philippines - Listed companies saw strong growth in terms of revenues and profits in the first half as most businesses benefited from strong economic fundamentals so far this year, a Philippine Stock Exchange (PSE) statement over the weekend showed. The PSE said that combined net incomes of companies in the six months through June grew by 26.4 percent to P271.02 billion from P214.40 billion in the previous year due to the better performance showed by the industrial, financials, holding-firms, Read more [...]

The combined first semester earnings of firms listed with the Philippine Stock Exchange grew by 26.4 percent to P271.02 billion from P214.40 billion in the same period last year. The bourse said this is due to better performance of the Industrial, Financials, Holding Firms, Property, and Services Sectors. Meanwhile, consolidated revenues of listed companies increased by 21.0 percent to P2.24 trillion from P1.85 trillion in the first half of 2011. “We are optimistic that net income growth Read more [...]

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By Samuel Sanya INVESTORS are taking up the UMEME stock at a faster pace despite fears on the energy utility’s concession expiry, and concerns over the initial public offer (IPO) price. Stanbic Bank, the transaction advisor and lead receiving bank, on Monday confirmed the oversubscription for the 46% stake allocated to international investors, hardly three days since the stock hit the primary market. “There is a lot of interest in the IPO from the public and the price is not too high for investors,” Read more [...]