PPA net profit jumps 17% to P7.16 billion, eclipses target by 70% as of end November 2016
JANUARY 17, 2017, MANILA—State-owned Corporation Philippine Ports Authority (PPA) posted a 17% hike in net profit in the 11-month period of 2016 anchored on the strong financial performance of the agency during the last five months.
The accumulated amount was also significantly higher compared to the target for the entire 11-month period in 2016.
The PPA was able to achieve such financial stability despite the continuing slide in the foreign exchange rate and other external factors affecting the strength of the Philippine peso.