Aboitiz Equity Ventures, Inc. (AEV) ended the first half of 2012 with a consolidated net income of P11.8 billion (bn), recording an increase of 16% year-on-year (YoY). This translates to an earnings per share of P2.14.  AEV's power business continued to account for the lion's share, at 79%, of the company's income contributions from its strategic business units, followed by the banking and food units with income contributions of 17% and 4%, respectively.

MANILA, Philippines--AboitizPower (PSE ticker symbol: AP) has disclosed a net income of P12.2 billion (bn) for the first half of 2012. This represents a 15% year-on-year (YoY) improvement, compared to the P10.6 bn gained during the same period in 2011.

True to its commitment to alleviate the need for power supply in Mindanao, AboitizPower Corp., through its wholly-owned subsidiary Hedcor, Inc., recently broke ground for the construction of the 7-megawatt Tudaya Hydropower 2 Plant in Sta. Cruz, Davao del Sur.

The Aboitiz Group will soon hit 70% of 3-million trees to be planted before 2015, as a commitment to a nationwide initiative, APARK (Aboitiz Passion for Agroforest and Reforest to Keep).

Aboitiz Equity Ventures, Inc. (AEV) and Aboitiz Power Corporation (AboitizPower) are now among the distinct group of corporations that have been conferred with the Gold Award by the Institute of Corporate Directors (ICD).