FICCO once again an all-time high net surplus of ₱697.05 million, a 6.7% increase over last year’s ₱653.41 million.
This, however, fell short against the target of ₱780.30 million. This unfavorable budget variance is traceable to the decline in the value of FICCO’s equity investments brought about by economic and political uncertainties. From a positive ₱68.02 million Investment gain in 2017, FICCO booked a ₱51.82 million loss.