Holding firm Aboitiz Equity Ventures, Inc. (AEV) posted a 29-percent decline in consolidated net income to P4.9 billion in the first quarter of 2014, translating to an earnings per share value of P0.88 for the said period.
From January to March this year, AEV registered non recurring income of P470.6 million-largely due to a P634-million gain from the sale of some assets resulting from its business rationalizing program.
However, foreign exchange losses from the revaluation of the combined dollar-denominated loans and placements which amounted to P163.4 million, affected the profit picture.
|Source Institution||Securities and Exchange Commission|
|Place of Publication||Mandaluyong City|
|Original Publication Date||May 8, 2014|