SSS H1 profit up 21% on higher trading gains

Aug 31, 2012 3:37 PM PHT

Rappler.com

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SSS President Emilio de Quiros Jr says stock gains rose 48% to over P10-B in the first half

MANILA, Philippines – Earnings from stock trading boosted the first-half earnings of Social Security System (SSS), the state pension fund for private workers.

SSS President Emilio de Quiros Jr said the agency posted an income of P18.33 billion in January to June this year, up 21% from last year’s P15.2 billion. He said 58% of this came from trading gains.

“We took advantage of stock market opportunities that helped boost equity earnings by 48% to a 6-month total of P10.54 billion,” he said.

SSS posted P18.7-billion net revenue during the period, 42% higher than the P13.14 billion it recorded in 2011. – Rappler.com