FIRMS listed on the Philippine Stock Exchange (PSE) grew profits by more than a fifth last year, slower than the 80-percent growth registered in 2009, although that period was boosted by big-ticket asset sales and was compared with a lower base in 2008 which bore the brunt of the global financial crisis.
In a statement released over the weekend, the PSE said combined net incomes of listed firms hit P440.72 billion in 2010, compared with P360.63 billion in 2009.
Earnings of mining and oil firms alongside holding companies led gains last year, reflecting the uptick in economic activity, partly buoyed by election related spending in the first half of the year.
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