Consumer sentiment improved in the second quarter as more jobs were created, but businesses were less optimistic due to a surge in coronavirus infections and rising prices, according to the Philippine central bank. The Bangko Sentral ng Pilipinas (BSP) confidence index (CI) fell by 30.9% in the quarter ended June, better than the 34.7% slump a quarter earlier, it said on Friday. The number of households with a grim outlook went down, but they still outnumbered those with an optimistic view. Consumer confidence was also upbeat for the third quarter and the next 12 months, the central bank said. The confidence index reverted to positive 1.3% from a 2.2% […]
Tag: quarter
Philippine smartphone market grew by almost 27% in Q1, but seen slowing down
THE Philippines’ smartphone market grew by nearly 27% year on year, bringing in more than four million units in the first three months of the year, according to the International Data Corporation’s (IDC) Quarterly Mobile Phone Tracker. “This was despite a 35.3% decline compared to the previous quarter’s large shipments by vendors that took advantage […]
Benguet Corp. records income surge on mining projects’ strong revenues
BENGUET Corp. reported a first-quarter net income of P518.56 million, more than nine times higher year on year, on the back of stronger revenues from its gold, nickel, and lime projects. The listed mining company said in a stock exchange disclosure on Wednesday that revenues for the January-to-March period increased 314% to P1.28 billion from […]
Leon Fuat Berhad Records Stellar Quarter due to Rising Global Demand, Profit Up 3,297%
SHAH ALAM, Malaysia, May 28, 2021 – (ACN Newswire via SEAPRWire.com) – Leon Fuat Berhad (“Leon Fuat”), a manufacturer and trader of steel products, specialising in rolled long and flat products, today announced that the Group recorded a 3,297.0% rise in profit after tax (“PAT”) to RM36.11 million for the quarter ended 31 March 2021 […]
Central Global Berhad Posts 25% Rise in Revenue
KUALA LUMPUR, May 25, 2021 – (ACN Newswire via SEAPRWire.com) – Main Market-listed Central Global Berhad (“CGB”) recorded a 25.42% increase in revenue to RM37.56 million for the first quarter ended 31 March 2021 (“1Q2021”) compared to RM29.95 million recorded in the same quarter of the previous year. CGB executive chairman Dato’ Faisal Zelman The […]
Porsche global sales soar by 36% in Q1
PORSCHE’s worldwide deliveries in the first quarter of 2021 increased by 36% compared to the same period last year. It sold 71,986 sports cars, SUVs, and sedans in Q1 2021 versus 53,125 units delivered during Q1 2020. Significantly, the Taycan — the Stuttgart-headquartered sports car maker’s first all-electric model — moved almost as many units […]
Converge earnings whet investors’ appetite
By Lourdes O. Pilar, Researcher INVESTORS took positions on Converge ICT Solutions, Inc. last week after the release of its first-quarter earnings report. A total of 47.16 million shares worth P924.87 million were traded from May 17 to 21, data from the Philippine Stock Exchange showed. This made the fiber internet service provider the seventh-most […]
Gov’t Q1 tax effort improves
The share of tax collections in the country’s economic output rose to a record first quarterl level of 14.41% in January to March, according to the Department of Finance (DoF), a sign of improved economic activity amid a coronavirus pandemic. State tax revenue went up by 0.44 percentage point during the quarter from a year […]
Alliance Global posts 13% income drop with pandemic restrictions
TAN-LED Alliance Global Group, Inc. (AGI) finished the first quarter with P2.6 billion in net income to owners, a 13% decline from P3 billion in the same period last year after renewed pandemic restrictions hit its businesses. “During the first two months of the year, most of our businesses have already rebounded, sustaining the momentum […]
GMA Network net income jumps three times to P2 billion
LISTED media company GMA Network, Inc. saw its attributable net income jump more than three times to P2 billion in the first quarter of the year from P583.41 million in the same period a year ago. The company’s total revenues surged 54.7% to P5.46 billion from P3.53 billion previously, GMA Network said in a disclosure […]
Showa Denko Announces 2021 First Quarter Financial Results
TOKYO, May 13, 2021 – (JCN Newswire via SEAPRWire.com) – Showa Denko K.K. (SDK; TSE:4004) today announced its 2021 first quarter financial results. – 2021 First Quarter Consolidated Financial Statements and Summaryhttps://www.sdk.co.jp/assets/files/english/ir/library/fss2021-1q.pdf About Showa Denko K.K. Showa Denko K.K. (SDK; TSE:4004, ADR:SHWDY) is a major manufacturer of chemical products serving from heavy industry to computers […]
PHL stocks drop on negative data, virus concerns
STOCKS fell on Wednesday on worries over the economy’s recovery prospects after data showed a worse-than-expected contraction in the first quarter, and with coronavirus disease 2019 (COVID-19) cases continuing to rise. The Philippine Stock Exchange index (PSEi) lost 90.43 points or 1.42% to close at 6,236.40 on Wednesday, while the broader all shares index went […]
PLDT spends P20.7B capex in Q1
DESPITE Covid-19 mobility restrictions, PLDT and Smart have continued investing to expand the network, resulting in capital expenditure (capex) of P20.7 billion in the first quarter of 2021. Network upgrades made up the bulk of the capex spend, helping fortify the telco’s infrastructure and deliver consistently superior customer experience. The rollout of fiber, 5G and […]
Pryce profits up 6% as higher sales offset expansion costs
PRYCE Corp. reported a net income growth of 6.08% to P423.22 million in the first quarter as higher sales of its liquefied petroleum gas (LPG) products offset larger operating expenses. “[The company] was able to achieve the above 6.08% increase in net income even with larger operating expenses due to its expansions of refilling plants […]
AllHome net income hits nearly P400 million
VILLAR-led AllHome Corp. generated a net income of P399.6 million for the fourth quarter of 2020, growing by 28% from its third-quarter income of P312.5 million. “The improvement in sales and net income was brought about by the opening up of the Philippine economy and easing of quarantine restrictions in the third quarter and fourth […]
Philippine home prices recover in Q4
Home prices rebounded in the past quarter, driven by faster increases in residential real estate outside Metro Manila as more families considered building houses outside the city during a coronavirus lockdown, according to the central bank. In a report released on Friday, the Bangko Sentral ng Pilipinas (BSP) said the Residential Real Estate Price Index […]
DENSO Announces Third-Quarter Financial
KARIYA, JAPAN, Feb 2, 2021 – (JCN Newswire) – DENSO, a leading mobility supplier, today announced its global financial results for the third quarter, beginning Oct. 1 and ending Dec. 31, 2020, for its 2021 fiscal year, which ends March 31, 2021: – Consolidated revenue totaled 3,508.6 billion yen (US$33.9 billion), a 9.9 percent decrease […]
Yields on government debt end mixed on GDP report
YIELDS on government securities (GS) ended mixed last week after the country’s economic output contracted at a record low. Debt yields, which move opposite to prices, rose 0.1 basis point (bp) on average week on week, based on the PHP Bloomberg Valuation Service Reference Rates as of Jan. 29 published on the Philippine Dealing System’s […]
Philippine GDP shrinks by record 9.5% in 2020
Gross domestic product (GDP) contracted by 9.5% in 2020, the worst ever in Philippine history. — PHILIPPINE STAR/MICHAEL VARCAS By Beatrice M. Laforga, Reporter THE PHILIPPINE ECONOMY suffered its worst annual contraction on record in 2020, even after gross domestic product (GDP) shrank by a slower pace in the fourth quarter, the statistics agency said […]
Typhoons likely hurt farm output growth
By Revin Mikhael D. Ochave, Reporter THE agriculture sector’s growth likely slowed in the fourth quarter, after a string of strong typhoons devastated rice-producing areas. Glenn B. Gregorio, director of the Southeast Asian Regional Center for Graduate Study and Research in Agriculture (SEARCA), said the agriculture sector will post 0.58% growth in the fourth quarter, […]