MANILA -Business tycoon Edgar Saavedra-led Citicore Energy REIT Corp. (CREIT) saw its earnings last year swell by more than 450 percent after operating as a renewable energy-themed real estate investment trust (REIT) company for a full year. In a stock exchange disclosure on Wednesday, CREIT posted a net income of P1.25 billion in 2022, a 454-percent growth compared with the previous year's earnings, on the back of 'largely resilient' lease revenues. 'The higher income we generated as a renewable energy REIT allows us to share a bigger pie with our investors and stakeholders,' said CREIT president and chief executive officer Oliver Tan.

https://business.inquirer.net/393755/creit-posted-454-profit-gain-in-2022

#inquirer