DMCI profit up 61% in Q1

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.

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SCC Related News: International Coal Prices Soar

China coal imports likely to decline as prices soar
China Daily


The high international price of coal will hit Chinese demand for imports, as consumers turn to cheaper, domestically produced coal.

Imports fell by 26 percent in the first quarter of 2011 on a year-on-year basis, the National Energy Administration (NEA) said on Friday.

China imported 32.4 million tonnes of coal in the first quarter of the year, 26.4 percent less than in the same period in 2010.

The international coal price had increased to $120 a tonne by March 31 from $90 a tonne in the same period last year, boosted by strong demand from reconstruction projects in Japan after the March 11 earthquake, and the diminished supply from Australia in the wake of widespread flooding late last year.


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Power business to boost Semirara profit - Philippine Daily Inquirer

By Riza T. Olchondra
MANILA, Philippines—Power would be the “main variable” for Semirara Mining Corp.’s performance this year, company vice chair Isidro A. Consunji told reporters.

Consunji said the country’s largest coal miner was projecting a profit of P4.8 billlion to P5.6 billion this year from its power generation and coal mining operations. If realized, that would translate to a 20 to 40 percent increase from the 2010 level.

Mining operations are already “predictable and maxed out,” he said. Semirara’s coal output was placed at 7 million tons, higher than its capacity of 6 million tons.

Semirara is expected to complete the rehabilitation of the Calaca coal-fired power plant in Batangas by the first quarter of next year.

The facility, which is being rehabilitated, has a capacity of 600 megawatts (MW).

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Semirara unit targets hike in power output - BusinessWorld Online

By Emilia Narni J. David

CONSUNJI-LED Semirara Mining Corp. expects to hike the generating capacity of its power subsidiary by nearly a third this year after the $88-million rehabilitation work is completed, an official yesterday said.

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