Last November, Alsons switched on the second unit of SEC’s baseload coal-fired power plant in Sarangani’s Maasim town. The $570-million facility supplies electricity to not only to Sarangani, but also to the cities of General Santos, Cagayan de Oro, Iligan, Dipolog, Dapitan, Pagadian, Samal, Tagum, Kidapawan and Butuan. In 2019, Alsons booked a consolidated full-year net income of P938 million, up 67 percent from P563 million in 2018. For the first quarter, its net profit hit P310.5 million, a 197.5-percent increase from P104.4 million year-on-year. Alsons shares slipped by 2 centavos or 1.68 percent to end at P1.17 each on Thursday.

Source: Manila Times July 23, 2020 16:38 UTC