Alsons Consolidated Resources Inc., the holding company of the Alcantara Group, Tuesday said its net income attributable to parent fell by 40 percent in the first nine months to P239.6 million from P402 million a year ago.
In a disclosure to the Philippine Stock Exchange, Alsons said its consolidated net income in the first nine months this year was 18 percent lower than year-ago level. This was due to the nonrecurring income posted in 2011, which came mainly from the collection of insurance claims by a subsidiary.
Consolidated core net income was up by 17 percent to P747 million. Total revenue grew by 9 percent to P2.27 billion in the first nine months of 2012, from P2.08 billion a year ago.
“The biggest contribution to the holding company’s revenue came from power generation subsidiaries based in Alabel, Sarangani and Zamboanga City, which earned P1.597 billion in the first three quarters of 2012 from P1.522 billion in the same period in 2011,” the company said.
Alsons’ utility subsidiary at the Lima Technology Center in Malvar, Batangas posted a 19-percent increase in power and water sales to P603 million in the first three quarters from P505 million a year ago. Amy R. Remo