Power unit earnings Boost Alsons Consolidated income

Manila Bulletin
By Myrna M. Velasco 
Published: August 30, 2013 
The power generation business segment of Alsons Consolidated Resources Inc. (ACR) primarily boosted its first half consolidated income to P609.8 million, or a jump of 26 percent from the previous P485.1 million.
The listed firm’s attributable to parent income also climbed significantly by 66 percent to P270.9 million from the year-ago level of P163.3 million.
“ACR’s power generation and power plant management subsidiaries were the biggest contributors to the company’s revenue growth,” the Alcantara firm has noted in a press statement.
The second biggest contributor to its bottom line had been Lima Technology Center in Malvar, Batangas; with revenues going up 16 percent to P452 million from last year’s P390 million in the same period. This is a joint venture with Japanese firm Marubeni Corporation.
It added that “the improved net income was aided by the booking of project development fees as other income coming from Sarangani Energy Corporation.”
The company has been accelerating the development of various power projects, with the biggest capacity additions of up to 300 megawatts due around 2015 to 2016.
ACR stressed that in the first six months, its revenues went up by 12.0-percent to P1.67 billion from P1.49 billion. The listed firm’s earnings per share for the period increased to P0.043 versus P0.026 during last year’s first semester.
The company added energy fees from its Mindanao diesel-fired power facilities rose 13 percent to P1.18 billion from the previous year’s P1.05 billion.
The Alcantara firm is currently operating the 55-megawatt Southern Philippines Power Corporation plant in Alabel, Sarangani and the 100-MW Western Mindanao Power Corporation facility in Zamboanga City.
Its recently-acquired Mapalad Power diesel plant in Iligan City also shored up the company’s earnings. The plant is set for ramp up to 98MW capacity by end-September from its current generation of 76MW.
The Alcantara firm also reported recently its completion of 40 percent equity buy-back from partner Electricity Generating Public Company (EGCO) of Thailand.   source