Ceneco finally posts
P23M net profit: GM
BY ADRIAN NEMES III
Central Negros Electric Cooperative posted a P23 million net income last year after suffering losses since 1998, its general manager Sulpicio Lagarde, announced Saturday.
Lagarde, who spoke at the 38th annual general membership assembly of CENECO, at the University of St. La Salle Coliseum, said that, hopefully, they will be able to sustain its gains.
He said their electric gross profit also climbed to P433.5 million last year from P289.4 million in 2011, or about 49.79 percent increase.
He attributed this to the reduction of unnecessary expenses and the strengthening of their revenue base.