The year 2023 proved to be another banner year for Filinvest Development Corporation (FDC), as its consolidated net income rose by 46 percent to P12.1 billion from P8.3 billion in 2022, attributable to healthy increases across the conglomerate’s business segments.

Net income attributable to the parent’s equity holders went up by 58 percent to P8.9 billion from P5.7 billion. Furthermore, consolidated revenues increased by 31 percent to P92.8 billion from P71.1 billion.

FDC said that it also closed 2023 with total assets of P735 billion, expanding by 6 percent.

“This past operating year was marked by robust growth in all our business lines,” FDC President and Chief Executive Officer Rhoda Huang said in a statement. “We look forward to sustaining the strong momentum in 2023.”

“The key to our success was a renewed focus on the fundamentals of our business, staying true to our key strategic imperatives, and [relying] on our core strengths as an organization,” she added.

FDC’s banking, real estate, and power subsidiaries were the drivers behind the company’s earnings in 2023, accounting for 39 percent, 32 percent, and 24 percent, respectively.