Alsons H1 profit up by 66%

Alsons Consolidated Resources Inc. of the Alcantara Group posted a 66-percent growth in its first-semester net income attributable to parent to P270.9 million.

Revenue likewise grew by 12 percent in the first six months to P1.67 billion from P1.49 billion a year ago, ACR disclosed to the Philippine Stock Exchange Thursday.

Revenue growth, it said, could be attributed to the strong performance of its power generation and power plant management subsidiaries.

Energy fees earned by the company’s Mindanao-based diesel power facilities went up by 13 percent to P1.18 billion from P1.05 billion a year ago.

ACR operates power generation facilities through subsidiaries Southern Philippines Power Corp., Western Mindanao Power Corp. and Mapalad Power Corp.

Apart from the diesel power plants, ACR is also developing two coal-fired facilities in Mindanao. These are the 105-MW coal plant in Zamboanga City by San Ramon Power Inc. (SRPI) and the 210-MW coal facility in Maasim, Sarangani by Sarangani Energy Corp. (SEC).

The first phase of the SEC plant, which will have a capacity of 105 MW, is scheduled to start commercial operations by 2015.

Lima Technology Center in Malvar, Batangas, an industrial estate joint venture with Japan’s Marubeni Corp., is ACR’s second largest revenue contributor. Amy R. Remo