MacroAsia Corporation reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported net service revenues of PHP 864,277,964 against PHP 740,142,395 a year ago. Interest income was PHP 1,428,868 against PHP 680,056 a year ago. Income before income tax was PHP 341,813,051 against PHP 411,377,917 a year ago. Net income attributable to parent equity holder was PHP 304,391,166 or PHP 0.25 per basic and diluted share against PHP 363,138,494 or PHP 0.29 per basic and diluted share a year ago.

For the six months, the company reported net service revenues of PHP 1,657,849,199 against PHP 1,432,368,850 a year ago. Interest income was PHP 2,423,786 against PHP 1,479,517 a year ago. Income before income tax was PHP 602,945,607 against PHP 738,061,336 a year ago. Net income attributable to parent equity holder was PHP 525,048,960 or PHP 0.43 per basic and diluted share against PHP 641,354,050 or PHP 0.52 per basic and diluted share a year ago. Net cash used in operating activities was PHP 209,712,607 against net cash from operating activities of PHP 137,547,726 a year ago. Acquisitions of property and equipment were PHP 298,799,349 against PHP 87,016,998 a year ago. Acquisitions of intangible assets were PHP 9,946,965 against PHP 6,120,185 a year ago. Book value per share was PHP 4.28.

The company forecasts a stronger second half performance for its key business units, keeping its overall target of a 20% organic growth within sight. The company believes that it is still poised to grow its annual 2018 results substantially in the second half of 2018, as its ground handling company saw the servicing of 8 new airline accounts in the first half of year 2018, and is also starting its concessions in Terminal 2, Mactan Cebu as the terminal became operational July 2018.