Clark posts P1-B 2017 net in­come

Sun.Star Pampanga - - FRONT PAGE - BY REY­NALDO G. NAVALES Sun.Star Staff Re­porter

FREEPORT — The Clark De­vel­op­ment Cor­po­ra­tion (CDC) has recorded P1-bil­lion net in­come in 2017.

Clark Freeport’s net in­come of P1.01-bil­lion in 2017 re­flected a 32 per­cent in­crease from its 2016 net in­come of P738-mi l l i on.

In a re­port to the CDC Board of Di­rec­tors, Pres­i­dent Noel F. Manankil said that the Freeport’s rev­enue in 2017

rep­re­sented 27 per­cent of the P3.801-bil­lion in­come gen­er­ated for the first 23 years of CDC’s op­er­a­tions.

He added that CDC also re­mit­ted cash div­i­dends of more than P2.5-bil­lion to the Na­tional Trea­sury cov­er­ing the pe­riod of 1993 to 2016.

Manankil said that CDC posted a 20 per­cent growth in its gross rev­enues for 2017, earn­ing P 1.98-bil­lion.

The CDC pres­i­dent cited the growth on ex­port value in­side the Freeport which surged to $6.87 bil­lion last year. This rep­re­sents a 35 per­cent up­turn from 2016 at $5.08-bi l l i on.

Manankil said there was also a growth in the num­ber of lo­ca­tors in­side the Freeport.

He said that there were 54 ad­di­tional lo­ca­tors that were reg­is­tered last year, bring­ing to 949 the to­tal num­ber of lo­ca­tor-firms in 2017.

The en­try of lo­ca­tors in­side the Freeport re­sulted to ad­di­tional 107,000 work­ers as of De­cem­ber 2017.

The in­dus­trial and man­u­fac­tur­ing in­dus­try hired 48,476 em­ploy­ees. The In­for­ma­tion and Com­mu­ni­ca­tion Tech­nol­ogy ICT in­dus­try has 23,439 work­ers or a 22.70 per­cent from the to­tal num­ber of work­ers here.

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