INQ7 MONEY - BREAKING NEWS
August 01, 2006
Updated 10:56:50 (Mla time)
Xinhua Financial News Service
ABOITIZ Equity Ventures Inc. (AEV) said it’s net profit dropped 13 percent to 906 million pesos in the second quarter to June while its first half earnings fell six percent to 1.56 billion pesos.
It declined to give further details of its second-quarter performance, but it said the first-half results reflected lower profits from its banking and food and transport segments.
Unit Union Bank of the Philippines meanwhile said its net profit in the first half fell to 1.1 billion pesos from 1.5 billion a year earlier due to its acquisition of International Exchange Bank.
AEV said its power generation and distribution business posted better earnings and remained the biggest contributor to group earnings.
(One dollar = 51.59 pesos)
http://services.inq7.net/express/06/08/01/html_output/xmlhtml/20060801-12833-xml.html
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