Published
By Myrna M. Velasco
The full financial
impact of the operation of the first block of its Sarangani coal-fired power
plant had boosted the profitability of Alsons Consolidated Resources Inc, (ACR)
to P269 million in the first six months, higher by 7.0-percent from P251
million on a comparative period last year.
The net income
attributable to parent firm also climbed 63-percent within the January-June
stretch to P85 million from the year-ago level of P52 million.
Earnings per share within
this financial review period had been 75-percent higher to P0.014 from last
year’s P0.008 per share.
On revenues, there had
been 12-percent jump to P3.58 billion from last year’s P3.20 billion, according
to the company.
Of the topline figure
for this duration, it was emphasized that the chunk of P2.19 billion had been
contributed by the initial 105-megawatt phase of the Sarangani facility.
According to the
Alcantara firm, financial results for the first half “were right on track with
its 2017 operating plan and budget,” enabling it to be poised for “significant
revenue and income growth at the end of the year.”
The first unit of the
company’s Sarangani generating plant was set on commercial stream last April
2016; while the next 105MW block is targeted on-line around 2019.
The power generation
unit of the Alcantara group proved to be its ‘income driver’ and is set to be a
major profitability contributor in the long-term with additional power projects
set to be concretized.
In the line up are its
105MW San Ramon coal-fired plant in Zamboanga City; as well as renewable energy
developments on hydro and solar technology genres.
The company’s recent
tie-up with the Global Business Power Corporation of the Pangilinan-led group
will likewise be igniting transformational changes – but is seen bringing in
more favorable upshots especially in the implementation of future projects.
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