Meralco’s net income up by a fifth last year

By EUAN PAULO C. AÑONUEVO

Feb 28, 2012 12:05 am

Manila Electric Co. (Meralco) reported a double-digit profit growth last year as a result of an increase in tariffs and sales over the previous year.

In a briefing, Manuel Pangilinan, Meralco president and chief executive told reporters that its net income rose 22 percent to P14.89 billion last year from P12.16 billion in 2010.

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