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Aboitiz Power posts 13% jump in 2012 profit

MANILA, Philippines - Earnings of Aboitiz Power Corp., the power arm of Aboitiz Equity Ventures (AEV), grew 13% in 2012 from the year before on higher selling prices and net generation.

Aboitiz Power's net income in 2012 stood at P24.4 bllion versus P21.6 billion in 2011.

The company's President and CEO Erramon Aboitiz attributed the growth to the strong performance of the generation and distribution segments amid a vibrant economy.

Aboitiz Power's earnings included one-time gains foreign exchange gains and losses stemming from higher fuel cost, among others.

The company owns and operates several hydroelectric and geothermal assets, and also has non-renewable power plants located across the country.

Here's how the segments performed:

Power generation

Power distribution

- Rappler.com