By Iris C. Gonzales (The
Philippine Star) | Updated November 17, 2015 - 12:00am
MANILA, Philippines - DMCI Holdings
Inc. reported a consolidated net income of P9.9 billion in the first nine
months of the year, up 31 percent from the P7.5 billion earned in the same
period a year ago.
Excluding the one-time gain, core
net income of the Consunji-led holding firm grew 24 percent to P9.3 billion.
The one time gain came from DMCI’s
sale of its stake in Private Infra Dev Corp. to San Miguel Corp.’s Rapid
Thoroughfares Inc.
PIDC is the concessionaire for the
Tarlac-Pangasinan La Union Expressway.
DMCI chairman and president Isidro
Consunji attributed the increase in net income to strong contributions from the
holding firm’s coal energy, real estate, off-grid power, construction and water
distribution businesses.
“Despite challenging market and
operating conditions, our investments delivered robust growth during the first
nine months of the year. We are focused on sustaining this momentum to achieve
our full year profit target of P12 billion,” he said.
Consolidated core EBITDA improved by
36 percent to P18.7 billion from P13.7 billion the previous year, while
earnings per share swelled 31 percent to P0.74.
By business segments, Semirara
Mining and Power Corp. contributed P3.5 billion to DMC’s bottom line.
This is higher by 59 percent compared to the P2.2 billion declared last year as
sales of its power generation segment improved.
DMCI Homes, meanwhile, contributed
P2.7 billion, a four percent uptick from the previous year owing to higher
recognized revenues from completed high-rise projects in the first quarter.
Higher billed volume and improved
operational efficiency pushed up the profit contribution of affiliate Maynilad
Water Services to P1.7 billion or an increase of 25 percent.
On the other hand, Income
contributions from DMCI Mining fell 26 percent to P643 million.
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