CLARK FREEPORT – The Clark Development Corp. (CDC) announced that posted a higher net income in 2018 surpassing the year-ago level by 31 percent.
A report submitted by the CDC finance group to CDC president Noel F. Manankil, stated that CDC generated a P1.35-billion net income for 2018, representing a 31-percent increase from the P1.03 billion posted in 2017.
This is in line with the continuing aim of helping boost local and national economies, the CDC report said.
It was also mentioned that the net income for 2018 alone is 22 percent of the total net income of the state firm of P6.18 billion from1993 to 2018.
Accordingly, CDC’s gross revenue also surged to P2.46 billion, representing a 22 percent upturn compared to P2.01 billion in 2017. It has also remitted a cash dividend of P3.25 billion to the National Treasury from the period of 1993 to 2017.
Meanwhile, this freeport’s export value was recorded at $4.7 billion as it also indicated an increase on the number of locators. An additional 89 locators were registered last year, bringing the total of locator-firms to 1,038.
This has also created a growth on the number of jobs at 122,973 for 2018. This indicates an additional 15,973 workers as compared to the 107,000 in 2017.
For the coming years, it is expected that the number of employment will continue to grow with the forthcoming developments at the New Clark City where an estimated 582,000 individuals will belong to its workforce in the long run.
The state-owned firm attributed these improvements to the continuous effort and support of its stakeholders in making this freeport an area of development on investment, employment and export.
