First Gen revenue down13% in first semester

Lopez-led First Gen Corp. stated on Friday its recurring web revenue for the primary semester of 2022 fell by 13 % year-on-year to P6.6 billion from P7.1 billion in the identical six months final 12 months.

First Gen stated its pure gas-based and geothermal energy mills, the 2 largest contributors to its backside line, incurred decreased revenue for the January-June interval.

The pure gasoline belongings have been hobbled by interruptions of gasoline provide from the Malampaya manufacturing subject off Palawan whereas the geothermal crops have been adversely affected by Storm Odette that hit the Visayas in December 2021.

The corporate is anticipating higher prospects for the gasoline crops subsequent 12 months, when their LNG (lique…

Carry on studying: First Gen profit down13% in first semester


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