BDC sees profits doubling

The corporation’s draft results for the year ended June 2016 indicate a profit before tax of P200 million, almost two-fold from P110 million in the previous year.

According to documents presented to the parliamentary committee on statutory bodies recently, the projection includes P129 million of divestment income as well as ordinary and special dividends from wholly-owned subsidiaries. The results reflect a recovery for the government investment arm, which had experienced huge losses of P176 million in 2012, P222 million in 2013 and P76 million in 2014.