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DMCI Holdings nets P9.6B, up 76%

[ ] April 28, 2011
DMCI Holdings Inc. said profit last year reached P9.64 billion, up 76.23 percent from P5.47 billion in the previous year.
In a regulatory filing, the Consunji-led firm said profit less minority interest reached P7.87 billion, 67.44 percent higher than the previous year’s P4.7 billion.
Revenue rose to P43.48 billion from last year’s P27.27 billion, with the biggest share coming from the company’s mining operation at 37 percent.
Construction revenues contributed 25 percent of the total, real estate contributed 18 percent, while power contributed 21 percent.
DMCI’s mining operation is done through coal mining unit Semirara Mining Corp. and mineral exploration through unit DMCI Mining Corp.
The construction business is done through unit DM Consunji Inc. and DMCI Project Developers Inc. The latter is engaged in construction business-generating investments, primarily through its equity participation in various project and infrastructure development activities.
The real estate business is handled through unit DMCI Homes, while the power business is held under DMCI Power Corp.
The company said profit also received a boost from earnings from DMCI’s holdings in the Maynilad Water concession.
The water business contributed 24 percent of profit, the mining business contributed 26, construction and real estate, 16 percent, and power, 11 percent.
DMCI said the full-year operation of its Calaca power plant in 2010 was also a big contributing factor in its profit growth, as the other businesses were already doing good.
DMCI also recognized an after-tax income from the sale of unit AG&P as a discontinued business worth P677 million.

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