Anscor H1 net income falls to P713M from yearago's P3.17B

A. Soriano Holdings Corp., the holding company of the Soriano family, has reported that its net income for the first half of this year shrank to P713.3 million from P3.17 billion in the same period in 2006. For the year's first semester, the company's revenues went up to P2.5 billion from P1.96 billion while investment gains increased to P3.19 billion from P2.27 billion. In May last year, Anscor sold its 23-percent stake in the port operator International Container Terminal Services Inc. to shipping and publishing magnate Enrique Razon Jr. for P5.91 billion. In 2006, Anscor announced that company recently announced that it would be investing P300 million to P350 million in its subsidiaries, particularly those engaged in the business process outsourcing industry. SPI Technologies plans to expand its capabilities to provide its clients a complete range of services. eTelecare International, the call-center arm of Anscor, listed shares in the Nasdaq early this year. Other business interests of the company include the International Quality Manpower Services Inc., a venture engaged in the deployment of registered nurses to the United States, and Seven Seas Resort which operates the exclusive Amanpulo Resort in Palawan. - Cheryl Arcibal GMANews.TV