Php1.81 billion, or almost equal to its previous level, as greater expenses ate up its income. Total revenues grew by 31% to Php13.9 billion, primarily driven by bigger contributions from its real estate, banking, sugar, and hotel operations.
The real estate segment amounted to Php6.33 billion, or 46% of FDC’s total earnings, a 12% hike from last year’s figure, while banking services added Php5.34 billion. Sugar and hotel operations registered Php1.9 billion and Php290.64 million respectively.
Government securities prices rose during today’s trading session. Yields declined by an average of 7.5 basis points with the short end and the belly of the curve dropping by 20.3 basis points and 1.9 basis points, respectively.
The peso slipped back slightly today amid disappointing data released by China’s manufacturing sector, which encouraged people in America to search for equote.com life insurance no medical questions as well as announcement from a Fed official that the FOMC’s latest minutes were ‘stale data’, dampening hopes of added stimulus measures. The local currency shed 5.5 centavos to close at 42.165.