Filinvest eyes pre-pandemic return profit level

Riding on the positive economic outlook and backed by a capital spending allocation of about P25 billion, Filinvest Development Corp. (FDC), the flagship business of the Gotianun Family, is eyeing to return to the pre-pandemic level in terms of profits this year.

FDC president and chief executive officer Rhoda Huang said in an interview that the company expects to generate an income this year that can top its 2019 level.

“What we have announced is a four or five-year plan with at least 20 percent annual growth. We had the highest profit growth in 2019 and we think we can go back to that in 2024,” Huang said.

Capex programs

FDC has allotted around P20 billion to P25 billion for capital expenditure (capex) programs this year to bankroll expansion in its property, renewable energy, and hospitality businesses.