EARLIER THIS YEAR, we noted how the financial data displayed in the previous edition of the Top 1000 Corporations in the Philippines do not yet reflect the impact of the coronavirus disease 2019 (COVID-19) pandemic on the country’s corporate sector.  While we knew at the time the Philippine economy posted its record worst annual contraction, it would not be a stretch to speculate the country’s firms also suffered a similar, if not greater, decline.

This edition of the Top 1000 confirms that speculation as, not surprisingly, many of the country’s biggest firms were in the red.