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.
