Anscor net income up by 12% to P2.8 billion

A. SORIANO Corp. (Anscor) increased its attributable net income by 12% in 2022 to P2.8 billion compared to P2.5 billion in the previous year due to an increase in sales.

In a disclosure to the stock market on Thursday, the listed holding firm reported a 21.1% growth in consolidated revenues to P12.38 billion from P10.22 billion in the previous year.

Its net revenues from sales of goods amounted to P10.73 billion, 22.6% higher than the P8.75 billion recorded in the previous year.

This was primarily due to the sale of AGP International Holdings Pte. Ltd. “for a consideration of $38.5 million, resulting in a one-time gain of P2.2 billion.”

Revenues from services went up by 27.7% to P1.29 billion from P1.01 billion.

The company’s dividend income fell by 26% to P295 million from P399 million in the previous year, while its interest income grew by 26.4% to P67.5 million from P53.5 million.

Its subsidiary Phelps Dodge International Philippines, Inc. (PDP) reported total revenues of P10.7 billion, which grew by 23% from the previous year. Its net profit also rose by 5% to P956.5 billion from P909.9 billion.

“Copper prices were volatile with an upward trend throughout the year. PDP’s policy of maintaining stable selling prices was rewarded with a flow of steady orders from its distributors,” the company said in its disclosure.

Amanpulo Resort in Pamalican Island, under Seven Seas Resorts and Leisure, Inc., reported higher revenues at P1.09 billion and a net income of P143.5 million.

“Through strategic sales and marketing activities and new products and offerings, Amanpulo bounced back strongly,” it said.

On Thursday, Anscor shares at the exchange went up by 1.85% or 20 centavos to close at P11 apiece. — Adrian H. Halili