MANILA, Philippines — Alsons Consolidated Resources Inc. (ACR), the listed holding firm of the Alcantara Group, reported a slight increase in its first quarter earnings to P104.3 million even as revenues declined. ACR attributed the slight profit improvement to the improved performance of its Sarangani Energy Corp. and lower finance charges due to partial loan repayment. It currently delivers power to more than three million people in the General Santos, Sarangani area and other parts of Mindanao. “The company has embarked on initiatives for its diesel plants to provide ancillary services to the National Grid Corp. of the Philippines (NGCP),” it said. The plant’s second section is currently in the commissioning stage and is targeted to start commercial operations in the second half.

Source: Philippine Star May 21, 2019 20:00 UTC