FDC reports 41% jump in H1 net income to P5.5B

Filinvest Development Corp. (FDC), led by GOTIANUN, reported a 41% increase in first-half attributable net income to P5.5 billion from P3.9 billion last year.

Revenue for the period rose by 30%, reaching P55.5 billion from P42.7 billion a year ago, driven by strong performances across banking, power, property, and hospitality sectors.

FDC President Rhoda A. Huang highlighted that the company's broad-based growth was fueled by robust revenue increases in each of its segments, including EastWest Bank (banking), FDC Utilities Inc. (power), and Filinvest Land Inc., Filinvest Alabang Inc., and Filinvest REIT Corp. (real estate).

The banking segment contributed 44% to total revenues, while power and real estate each accounted for 23%, with hospitality contributing an additional 4%, illustrating a diversified portfolio.

For the full year, FDC expects a capital expenditure of P26 billion, allocated primarily to real estate (61%), power projects (20%), and hospitality business expansion (9%).