| THE pooled earnings of domestic companies listed at the Philippine Stock Exchange (PSE) rose 27.5 percent to P261.1 billion last year from P204.75 billion a year earlier, according to a study made by the bourse.
The study was based on financial statements submitted to the PSE as of May 8, 2007 by 234 listed companies, including firms that belong to the SME (small- and medium-sized enterprise) board.
“The increase in combined income of the listed companies once again bolsters perceptions that the economy stands on solid ground,” PSE president Francis Lim said. “The improved bottom line of the listed companies also helps foster the sustained advance of our market.”
Local stock prices, as tracked by the PSEi, went up 42.3 percent last year; 15 percent in 2005; 26.4 percent in 2004; and 41.6 percent in 2003.
“I believe the listed companies can further improve on their income performance and drive stock prices higher, provided the same favorable factors that fuelled their growth last year remain intact this year,” Lim stressed. “In fact, we have preliminary results, showing the higher earnings of listed companies in the first quarter of this year,” he added.
The combined gross revenues of the listed companies last year, meanwhile, went up 14 percent to P2.2 trillion from P1.94 trillion a year earlier.
In terms of growth rate, firms on the SME board recorded the best performance at 511 percent. Companies on this Board reversed the P3.44-million loss they suffered in 2005 and chalked up P14.14 million in net income in 2006.
On the Main Board, the industrial sector recorded the highest growth in income at 54 percent as combined net earnings of companies in this sector jumped to P80.87 billion in 2006 from P52.54 billion a year earlier. Firms in the industrial sector also accounted for the biggest share of income at 31 percent and the largest share of the revenue pie at P1.09 trillion.
Listed companies in the financial sector recorded the second-highest rate of growth in net income at 34.4 percent as their combined net earnings reached P39.98 billion in 2006 from P29.75 billion a year earlier.
Firms in the holding firms sector accounted last year for the third-biggest share of total income at P54.13 billion, up 33.1 percent from P40.66 billion in 2005.
The net earnings of firms in the mining and oil sectors jumped 33.4 percent to P5.04 billion in 2006 from P3.77 billion a year earlier; those in the property sector expanded 6.3 percent to P18.77 billion; and in the services sector, 3.2 percent to P62.31 billion.
The combined earnings of companies that make up the 30-company PSEi increased 33.5 percent to P189.92 billion from P142.30 billion the previous year.
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