Tuesday, 27 April 2010

Profits of DMCI Holdings nearly triple in ’09

N. J. C. Morales

PROFITS of Consunji-led DMCI Holdings, Inc. almost tripled last year to P4.683 billion on the back of huge earnings from mining, real estate and water distribution.

“Operational results from all business segments showed significant improvements from the previous years,” DMCI Holdings said in a report to the Philippine Stock Exchange.

Growth was attributed to higher billed volumes and increased tariff rates charged by the water utility; new big-ticket projects for construction; more real estate units sold; and higher coal exports.

DMCI is into water distribution with Metro Pacific Investments Corp. under Maynilad Water Services, Inc., which operates the west zone concession of Metro Manila.

Profits of the water utility ballooned to P1.675 billion last year from just P81 million in 2008.

Net income from coal mining operations on Semirara Island through DMCI Mining Corp. also jumped to P1.164 billion from P460 million year on year.

Real estate, through D.M. Consunji, Inc. and DMCI Homes, also registered higher profits, at P1.02 billion last year from P758 million in 2008.

Shares in DMCI Holdings shed P0.25 each yesterday, closing at P15.25 from P15.50 on Friday.

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