The Subic Bay Metropolitan Authority has disclosed that the agency achieved last year the highest profit in its 20 year history.
Based on preliminary figures presented at the SBMA’s Strategic Planning conference last week, the Agency posted a record profit of P789 million in 2012. This is a drastic turnaround from the P1.2 billion loss in 2011
Chairman & Administrator Roberto V. Garcia said that the turnaround was due to increased revenues, reduced operating expenses and a favorable exchange rate.
The Agency revenue increase of 16%...