MPIC forecasts double-digit profit growth for 2024

METRO PACIFIC INVESTMENTS Corp. (MPIC) expects double-digit profit growth for 2024, driven by its power business and other subsidiaries.

Manuel V. Pangilinan, MPIC's chairman, president, and CEO, attributed the expected growth to strong performance across all of MPIC’s businesses, particularly Manila Electric Co. (Meralco).

MPIC delisted from the Philippine Stock Exchange voluntarily in October 2023, marking its first full year as a private company in 2024.

In 2023, MPIC reported an 89.7% increase in net income to P19.92 billion and a 20.5% rise in operating revenue to P61.33 billion, driven by growth in its power, toll roads, and water businesses.

MPIC’s diverse portfolio includes investments in healthcare, light rail, fuel storage, real estate, waste management, and agribusiness, alongside its presence in the toll roads and water sectors through subsidiaries such as Metro Pacific Tollways Corp. and Maynilad Water Services.