MacroAsia to breach P1B profit
MacroAsia Corp. sees its net income breaching P1 billion this year on steady growth in its aircraft maintenance activities, food services and ground handling operations.
“We confirm the statement on the net income exceeding at least P1 billion for 2017, “ MacroAsia said in response to a clarification request from the Philippine Stock Exchange.
In the first half, MacroAsia’s profit surged more than two-fold to P673 million. It expects to sustain its strong performance for the remainder of the year as major client contracts remain continuing and secured.
MacroAsia’s 49 percent owned unit Lufthansa Technik Philippines (LTP) has seen robust revenue growth from foreign airline clients in heavy base maintenance for wide-body aircraft.
Ground handling revenues through wholly-owned unit Mascorp. are projected to increase by more than a third this year as it expands its presence from 7 airport locations in December 2016 to 23 as of the end of the third quarter this year.
Food services arm MACS remains the preferred airline caterer for foreign airlines in NAIA. It is building a new food commissary in Muntinlupa to service its growing institutional catering portfolio. The new facility is targeted for opening in the first quarter of 2018.