DMCI profits humming from coal, mining, property rise?
Consunji-led engineering conglomerate DMCI Holdings Inc. posted a 19 percent increase in 2015 net profit to P12.8 billion on strong contributions from its power, coal mining and property businesses.
Last year?s income was also boosted by a P530 million one-time gain on sale of DMCI?s 25 percent interest in Private Infra Dev Corp., the project proponent and operator of the Tarlac-Pangasinan-La Union Toll Expressway.
Core net income grew 20 percent to P12.3 billion while revenue was flat at P57.2 billion.
?Our growth was driven by the strong performance of all our investments. Despite weak commodity prices and project execution delays, we were able to meet our profit guidance for the year,? said DMCI chairman and president Isidro A. Consunji.
Higher profits from energy generation pushed net income contributions from coal unit Semirara Mining and Power Corp. to rise 18 percent to P4.8 billion.
DMCI Mining contributed P501 million to group-wide earnings, an increase of 38 percent year on year. Higher sales volume and streamlined operating costs helped mitigate the impact of declining nickel ore prices on the firm?s bottomline.
Property unit DMCI Homes chipped in P3.6 billion or 11 percent higher than the P3.2 billion contributed in 2014.