Subic Bay Metropolitan Authority (SBMA) has reported P1.2 billion net profit in the first half this year, the freeport’s highest in its 21-year history.

In its mid-year accomplishment report, SBMA said the P1.2 billion net income in the first half of the year was a result of strong performance from key areas in investment generation, customs duties and tax collections, export production, as well as job creation.

In terms of committed investments, the SBMA amassed $267 million in the first six months of 2014, a 400 percent improvement over the $53 million record in the same period the previous year.

Freight-on-board exports rose by 173 percent, with $185.088 million in the first semester 2014 compared with $67.476 million last year; while employment generation improved to 90,425 in the first half of 2014 from 89,436 in 2013.

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