MANILA (AFX-ASIA) – Manila Electric Co said third quarter net profit declined sharply, coming in below forecasts as power sales remained soft, with the continued delay of government approval for the company’s rate adjustment application constraining earnings. Meralco said its third quarter net profit fell to 281.933 million pesos from 450.314 million a year earlier….
PHILIPPINES: Meralco Q3 net below forecast, down on weak power sales/rate hike delay UPDATE
Posted on November 14, 2002 by EnergyAsia