PH’s top 1000 firms report pandemic-induced decreased revenue in 2020
The Philippines’ top 1,000 companies reported a gross revenue decline in 2020 due the COVID-19 pandemic, according to BusinessWorld Top 1000 Corporations in the Philippines.
Last year, the firms’ aggregate gross revenue amounted to P10.796 trillion. It is 13.2% lower than the P12.439 trillion earned by the same roster of firms in 2019. Additionally, their combined net income decreased by 39.5% to P889.346 billion from the P1.469 trillion recorded in the year prior.
In the latest edition of Top 1000 BusinessWorld Top 1000, Manila Electric Co. (Meralco) took the no. 1 spot with P266.055 billion in gross revenue in 2020, which is a 13.9% decrease from the previous year.
BDO Unibank, Inc., Petron Corp., PMFTC, Inc., and Mercury Drug Corp., joined Meralco in the top five. They all recorded revenue decrease.
Related news
- PMFTC to invest P10Bn in agriculture, BPO · 7 Jan 2022
- PEZA to urge next admin to lift NCR ecozone ban · 27 Dec
- Baguio City eyed as investment destination by Indian investors · 20 Dec
Disclosure: Outsource Accelerator uses AI tools in the backend of its editorial workflow. Every article is reviewed and verified by a human editor before publication.
Stay ahead of the outsourcing industry. Join thousands of business leaders who rely on Outsource Accelerator for the news, trends, and expert insights that matter. Subscribe to our free newsletter and never miss an update.
