AbaCore Capital Holdings Inc. (ABA), a company with interests in real estate, tourism, finance and mining, reported a higher income in 2023 because of its long-term strategic investments and business partnerships throughout the country.
ABA said its net income reached P2.4 billion last year, or P0.56 per share, up from P2.0 billion, or P0.46 per share, in 2022.
It attributed the income growth to an increase in its recorded gains of revaluation, which grew on a year-on-year basis to P2.6 billion from P1.9 billion. This includes acquisition by the company of additional land assets at below market value.
ABA said it recorded a 28 percent increase to P18.98 billion in its investments on expanding its property bank.
“ABA’s financial results for 2023 reflect the company’s success in leveraging its strengths and by partnering with entities who can maximize the capabilities of our assets,” said ABA vice chairman Antonio Victoriano Gregorio III.
