Philippine
Daily Inquirer / 05:09 AM August 15, 2017
The expiration of DMCI
Power Corp.’s (DPC) income tax holiday for its Masbate operations pushed down
its net income in the first semester by 5 percent year-on-year to P228 million.
The off-grid
electricity supplier said in a statement growth in energy sales volume in
Masbate and Palawan as well as the commercial operations of a bunker-fired
power plant in Aborlan, Palawan helped soften the effects of the expiration of
tax perks in September 2016.
“Our pre-tax income is
a better indicator of our financial performance. We actually grew by double
digits year-on-year,” DPC president Nestor D. Dadivas said.
Dadivas said the firm
saw a 15-percent increase in Ebitda (earnings before interest, taxes,
depreciation, and amortization) to P379 million.
“Serving the missionary
areas makes good business sense,” he said. “We are optimistic that we will meet
our targets for this year.”
Established in 2006,
DPC provides electricity to small and remote islands not connected to the main
power grid. —RONNEL W.
DOMINGO
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