Friday 25 May
Powered by Ajaxy
Nov 11, 2016 @ 18:09

How the suspension of DMCI mines affected Consunji’s fortune‎

 

DMCI Holdings Inc. reported a six percent drop in earnings in the first nine months, dragged down by weak contributions from its real estate, nickel mining and water units.

Excluding a one-time gain of P111 million from the sale of its 10 percent stake in Subic Water and Sewerage Co., core net income slipped two percent to P9.1 billion.

Consolidated revenues from January to September were flattish at P45.1 billion compared to P45.6 billion a year ago.

“Our earnings results are in line with our forecast. Although our construction and energy businesses did well, the revenue recognition timing issue of DMCI Homes and the income tax holiday expiration of Maynilad significantly weighed down our consolidated results,” said DMCI Holdings chairman and president Isidro Consunji.

Higher coal sales boosted the earnings of Semirara Mining & Power Corp. by 52 percent to P5.4 billion.

Off-grid energy unit DMCI Power Corp. booked a 12 percent growth in profit to P342 million as a result of higher sales to electricity cooperatives in Calapan, Masbate and Palawan.

Tags: , , , , , , , , ,

Related Stories
Dubai stocks hit a 27-month low on Thursday on the back of sharp falls in
Bilyonaryo Lance Gokongwei is ready to take over the reins of the family’s growing business
Want to bare some skin in a stylish way? Here's an idea from our fave
Of course our first photo is not the real estate mogul’s real bike.


 

Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.