CREC profit rises 14% on solar power sales

MANILA, Philippines — Citicore Renewable Energy Corp. (CREC), backed by tycoon Edgar Saavedra, realized a 14-percent profit growth last year as it maintained its electricity sales momentum. In a statement, the company said its net income rose to P1.15 billion from P1 billion. Consolidated revenues also inched up by 3 percent to P5.32 billion, driven by