Alsons reported P747-m profit in 9 months

Manila Standard Today  

By Lailany P. Gomez   Posted on Nov. 19, 2012 at 12:01am

Alsons Consolidated Resources Inc., the publicly listed holding company of the Alcantara Group, said Tuesday consolidated net income declined in the first nine months, owing to non-recurring income earned in the previous year.

Alsons said consolidated net income slowed 18.4 percent to P747 million from P915.7 million earned over the same period last year, despite a 9- percent growth in revenues.

The holding company linked the lower profit to the P196.2 million in non-recurring income earned in 2011, coming mainly from the collection of insurance claims by a subsidiary.

Consolidated core net income, however, grew 17 percent to P747 million in the January-September period from P640 million earned in the same period last year.

Net income attributable to the parent was down 40.4 percent to P239.6 million at end-September from P402.3 million year-on-year.

The company said revenues grew 9 percent to P2.27 billion from P2.08 billion a year ago.

Alsons said the biggest contribution to the holding company’s revenues came from power generation subsidiaries based in Alabel, Sarangani and Zamboanga City, which earned P1.6 billion as of end-September.

Utility subsidiaries located at the Lima Technology Center in Malvar, Batangas reported 19-percent increase in power and water sales, posting P603 million from the previous year’s

P505 million.

The Alcantara Group, through its other subsidiaries outside of Alsons, is also engaged in aquaculture and agribusiness, real property development and services.   source