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DMCI’s income doubles to P16.4b

By Jenniffer B. Austria | Nov. 20, 2013 at 12:30am [ ]

DMCI Holdings Inc., the holding company of the Consunji family, said Tuesday net income in the first nine months doubled to P16.4 billion from P7.9 billion a year ago, buoyed by a one-time gain from the partial sale of the water business.

The company said minus the one-time gain, net income in the nine-month period was still up 2 percent to P8.04 billion from P7.9 billion a year earlier.

Consolidated revenues grew 5 percent to P41.15 billion in the January-September period from P39.09 billion recorded in the same period last year.

The company said the growth was led by robust performance of construction, real estate and power businesses.

DMCI said the power segment recorded a 181-percent increase in net income contribution in the first nine months to P2.65 billion from P944 million, following the rehabilitation of Calaca power units.

The group’s real estate unit posted a net income of P2.04 billion, up 11 percent from P1.83 billion last year as revenues jumped 37 percent. Reservation also grew 4 percent to P14.2 billion.

The construction business also recorded a 19-percent increase in net income to P1.14 billion from P962 million in 2012.

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