Quick takes from around the market
Aboitiz Power [AP 34.10 0.44%] [link] net income up 66% to P20.8 billion. Most of this is due to the start of commercial operations for its massive coal-fired power plant, and the rest is due to throwing more electricity into the spot energy market.
Universal Robina [URC 114.60 4.26%] [link] net income up 109% to P24.3 billion. Most of the gain came from URC’s sale of its Oceania business unit. As URC says, this gave it a chance to “monetize” (read: sell for cash) an under-performing business and put the money to work in higher-opportunity markets, like Malaysia.
Bloomberry [BLOOM 7.15 4.67%] [link] cuts net loss in half to just P4.2 billion. “Mass market” gross gaming revenue grew 63% y/y, but “VIP” gross gaming revenue fell 17% due to the crackdown on leading junket operators. When COVID is done, BLOOM will thrive... until then, it just has to wait (or continue its pivot to local gamblers and online gaming).
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Merkado Barkada's opinions are provided for informational purposes only, and should not be considered a recommendation to buy or sell any particular stock. These daily articles are not updated with new information, so each investor must do his or her own due diligence before trading, as the facts and figures in each particular article may have changed.
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