Metro Pacific Investments Corp. (MPIC) is eyeing another banner year, targeting double-digit growth this year.

“All of our core business segments performed consistently well in 2023. Meralco’s power generation business is becoming a steady contributor to its growth with promising expansion opportunities in the pipeline. Traffic on our toll roads under MPTC (Metro Pacific Tollways Corp.) is rising by double digits and Maynilad is benefiting from the catch-up of delayed tariff increases,” said Manuel V. Pangilinan, MPIC chairman, president, and chief executive officer.

MPIC executive vice president and chief finance, risk and sustainability officer Chaye Cabal-Revilla said the company recorded a 90-percent growth in consolidated net income in 2023 at P19.9 billion, a record-high for the firm.

For this year, the core businesses will remain the growth drivers for MPIC.

Meanwhile, Cabal-Revilla said MPIC set a capital expenditure of P140 billion this year—P40 billion for the Manial Electric Co. (Meralco), P31.4 billion for Maynilad Water Services Inc., and P28 billion for MTC.

Aside from the three core operating companies, MPIC is also in healthcare, fuel storage, waste management, real estate and agribusiness. It is also the private operator of the LRT-1.