CLARK FREEPORT – Clark Development Corporation (CDC) posted a net income of P1.35 billion in 2018 surpassing the P1.03 billion posted in 2017.
In a report submitted by Finance group to CDC President Noel F. Manankil, CDC generated a P1.35 billion net income for 2018, representing a 31-percent increase.
It was also mentioned the net income for 2018 alone is 22 percent of the total net income of the state firm of P6.18 billion from 1993 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.
Consequently, this also created a growth on the number of jobs at 122,973 for 2018. This indicates an additional 15,973 workers compared to the 107,000 in 2017.
For the coming years, it is expected the number of employment will continue to grow with the forthcoming developments at the New Clark City where more than 500,000 individuals are expected to be employed.
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.