ABACORE Capital Holdings, Inc. (ABA) reported an attributable net income of P3.04 million for the third quarter (Q3), a turnaround from a P30.25-million net loss in the same period last year, driven by strong performance across its various business ventures.
鈥淥ur strong performance for three quarters of 2025 reflects the company鈥檚 strategic focus on asset optimization and disciplined financial management,鈥 ABA Chairman and President Atty. Antonio Victoriano F. Gregorio III said in a press release on Thursday.
For the January-to-September period, ABA鈥檚 consolidated net income doubled to P82.67 million from P40.35 million a year earlier, largely due to P172.076 million in gains from the disposal of investment properties.
Operational expenses fell 11% to P83.02 million from P93.80 million, reflecting lower professional and management fees, reduced salaries and employee benefits following the demise of a senior officer, and adjustments in government premiums and healthcare contributions.
鈥淲e continue to strengthen our balance sheet while pursuing growth opportunities across our key sectors,鈥 Mr. Gregorio added.
During the third quarter, ABA鈥檚 subsidiary, Simlong Energy Development Corporation (SEDC), signed a memorandum of agreement with the state-owned Philippine National Oil Co. (PNOC) to conduct a feasibility study for a wind power project at AbaCore鈥檚 ABA Energy Hub in Batangas City.
On Thursday, AbaCore closed at P0.38, up 0.02 or 5.56%. 鈥 Alexandria Grace C. Magno
