By: Doris C. Dumlao
Philippine Daily Inquirer
MANILA, Philippines—Consunji-led DMCI Holdings Inc. grew its first-quarter consolidated net profit by 61 percent year on year to P2.2 billion on the back of robust coal mining operations of subsidiary Semirara Mining Corp.
The contribution of mining to DMCI’s net income attributable to parent equity holders amounted to P936 million for the quarter, up by 194 percent from a year ago.
DMCI owns 56 percent of Semirara, whose coal mining business benefited from higher coal prices and improved operations.
Semirara reported an improvement in its first-quarter figures with net contribution of P739 million for coal mining and P262 million for power generation in 2011, compared to P312 million and P57 million respectively in 2010.
In a regulatory filing, DMCI reported that sustained improvement in the real estate, water and power segments also boosted its first-quarter bottom line, making up for the slack in the construction business.
Read here
Philippine Daily Inquirer
MANILA, Philippines—Consunji-led DMCI Holdings Inc. grew its first-quarter consolidated net profit by 61 percent year on year to P2.2 billion on the back of robust coal mining operations of subsidiary Semirara Mining Corp.
The contribution of mining to DMCI’s net income attributable to parent equity holders amounted to P936 million for the quarter, up by 194 percent from a year ago.
DMCI owns 56 percent of Semirara, whose coal mining business benefited from higher coal prices and improved operations.
Semirara reported an improvement in its first-quarter figures with net contribution of P739 million for coal mining and P262 million for power generation in 2011, compared to P312 million and P57 million respectively in 2010.
In a regulatory filing, DMCI reported that sustained improvement in the real estate, water and power segments also boosted its first-quarter bottom line, making up for the slack in the construction business.
Read here
