MANILA: Manila Electric Co (Meralco), the Philippines largest power retailer, said on Tuesday its sales volume in 2010 increased by 10 percent, way above the growth posted in 2009.
The company has yet to release its full-year 2010 financial results. Its sales volume in 2009 hit 27,516 gigawatthours, up 1.7 percent from the previous year, a previous filing showed.
Meralco issued the statement to the stock exchange after The Philippine Star newspaper quoted chief operating officer Oscar Reyes as saying the company's electricity sales growth last year was the fastest over the past 13 years.
Last month, Meralco said in a disclosure it forecast an average 3.6 percent sales growth from 2012 to 2015.
Chief executive officer Manuel Pangilinan said last month the company likely hit its core income guidance of 11.5 billion pesos ($264 million) for 2010.
Meralco's net income jumped 61 percent in January to September 2010 from a year earlier.
Shares in Meralco, owned by Philippine conglomerates Metro Pacific Investment Corp and San Miguel Corp, was down 1.1 percent in late trade in a broader market that slipped 0.17 percent.
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