By Danessa Rivera (The
Philippine Star) | Updated August 12, 2016 - 12:00am
MANILA, Philippines - Consunji-led
Semirara Mining and Power Corp. reported a 35-percent jump in net profit in the
first half of the year on the back of better coal sales and increased
contributions from its new power plant.
In a statement, Semirara said net
earnings surged to P6.36 billion from P4.71 billion.
Its coal business contributed P2.8
billion while its power segment composed of Sem-Calaca Power Corp. and
Southwest Luzon Power Generation Corp. contributed P1.31 billion and P2.26
billion, respectively.
Coal production increased 14 percent
to 5.9 million metric tons (MT), which included unwashed coal. This resulted in
higher coal sales volume amounting to 6.6 million MTs, up 55 percent year on
year.
Meanwhile, Semirara’s energy
generation decreased by 44 percent 1,212 gigawatts per hour, pulling down the
total energy sold by 33 percent to 1,390 GWh.
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