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Tomas Alcantara-led holding firm posts strong double-digit growth

 

Alsons Consolidated Resources Inc, the listed investment arm of the family of businessman Tomas Alcantara, saw its net profit surge 69 percent to P317 million, mainly driven by its newly commissioned power plant in Sarangani.

In a statement, ACR said revenues jumped 42 percent to P7.07 largely due to the start of commercial operations of the initial section of the 210 megawatt coal-fired power plant of subsidiary Sarangani Energy Corp.

Operating profit grew 25 percent to P1.89 billion in 2016 while earnings before interest, taxes, depreciation and amortization soared to P2.69 billion.

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