MacroAsia Corp. said Wednesday its net income surged 122 percent in the first half to P849.10 million from the same period last year.
The company said the significant growth was fueled by a 29-percent rise in revenue to P4.77 billion and a substantial contribution growth from its associates.
MacroAsia said second-quarter sales reached a record P2.55 billion, pushing net income to P512.06 million.
The company’s inflight catering and food services revenue went up by 14 percent to P2.15 billion due to a rise in meals sold, totaling 11.56 million in the first half of 2024.
MacroAsia’s food segment is working on a facility expansion of its commissary outside the airport, as its five-year old facility in Muntinlupa City is nearing full capacity due to the rapid growth of its clients.
Ground-handling services posted a 48-percent revenue increase, reaching P2.19 billion, supported by the handling of 98,026 flights during the period.
Water operations contributed P327.13 million, reflecting a 14-percent growth due to increased volume in water concession accounts.
It said despite a 22-percent increase in total direct costs amounting to P3.44 billion, the growth rate of these costs remained lower than the rate of revenue growth, underscoring the company’s effective cost management strategies.
This growth was largely driven by the company’s joint venture in aircraft maintenance, repair and overhaul (MRO) through Lufthansa Technik Philippines (LTP).
LTP reported a quarterly net income of P592.33 million, with MacroAsia’s 49-percent share amounting to P290.24 million.
Other contributing associates include Japan Airport Service Co. Ltd. based in Narita, Japan and Cebu Pacific Catering Services in Mactan, Cebu.
The company plans to expand in Clark, Pampanga to partly address the growing and continuing demand for heavy repair services for wide-body aircraft of clients from all over the world. Darwin G. Amojelar
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