First Philippine Holdings LogoFor the nine months ended September 30, 2017, First Philippine Holdings Corporation (FPH) posted an attributable recurring net income (RNI) of P5.2 billion, higher by P282 million or 6% versus last year’s P4.9 billion.

The growth was driven by the stronger recurring earnings from the real estate and manufacturing sectors.

Despite higher RNI, net income attributable to FPH decreased to P4.6 billion from last year’s P9.0 billion on account of the parent’s share in one-off losses related to the First Gen group's debt prepayments, in contrast with the nonrecurring gains recognized last year from San Gabriel’s liquidated damages and First Philec’s arbitration settlement.