DIVERSIFIED conglomerate DMCI Holdings Inc. said on Thursday its nine-month net income fell 22 percent to P11.8 billion from P15.1 billion a year earlier, dragged by weaker results from its energy and construction units and integration costs from its new cement business.
For the third quarter, profit declined 33 percent to P2.7 billion due to softer energy markets, weather disruptions in mining, and higher costs. Semirara Mining and Power Corp. contributed P5.8 billion, down 34 percent, while DMCI Homes rose 11 percent to P2.7 billion. DMCI Power hit a record P985 million, and DMCI Mining swung to a P726 million profit. D.M. Consunji Inc. earned P187 million, and Concreat Holdings posted a P1.6 billion loss.
Equity earnings from associates rose 23 percent to P3.1 billion, helping cushion the group’s overall decline. / KOC