2024 profit target exceeded by Manila Electric Co., with CCNI increasing 10% in Q3 and 17% in first 9 months.

Manila Electric Co. (Meralco), the Philippines' largest power distributor, is set to exceed its P43 billion profit target for 2024. Chairman Manuel V. Pangilinan reported a 10% increase in consolidated core net income (CCNI) to P11.89 billion for the third quarter, driven by robust distribution and power generation. For the first nine months of the year, CCNI rose 17% to P35.1 billion, reflecting growth across all business segments.

October 28, 2024
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