Published
By James A. Loyola
D.M. Consunji, Inc.
(DMCI), the construction arm of DMCI Holdings, reported that its net income
jumped 36 percent to P676 million in the first half of 2018 from P497 million
during the same period last year.
In a statement, DMCI
said this was brought about by higher gross profit percentage of the business
units due to late approval of variation orders already accomplished in the
previous period.
DMCI posted a revenue
of P7.2 billion for the first half of 2018, driven by the performance of the
building and infrastructure business units.
This is 13 percent
higher compared to the same period last year which was at P6.4 billion. The
growth is attributed to the increase in number of completed projects during the
earlier part of the year.
“Overall, we still
maintain a positive outlook for D.M. Consunji, Inc. for the second semester of
this year,” said DMCI President and CEO Jorge A. Consunji.
He added that, “we
intend to be one of the major players participating in the rollout of
infrastructure projects under the Build, Build, Build Program of the
government, as well as in private construction projects.”
Buildings grew their
revenue by 48 percent this first semester, compared to the same period in 2017.
This is due to more projects that have been completed during the first half of
2018, as compared to last year’s first six months.
Better performance is
expected from the business unit due to ongoing projects, as well as
newly-awarded projects that will commence later this year.
The building business
unit also continues to actively participate in ongoing bids and negotiations.
The company is confident that these developments will further strengthen the
portfolio for the coming year.
Infrastructure, on the
other hand, suffered a dip in its revenue by 9 percent compared to the same
period last year, due to delays brought about by right-of-way issues.
No comments:
Post a Comment