DMCI Holdings Inc.’s profit surged to P4.3 billion in the first quarter from P616 million last year driven by DMCI Homes and Semirara Mining and Power Corp. (SMPC). Isidro Consunji, DMCI Holdings chairman and president, in a disclosure attributed the firm’s improved quarter results to higher construction accomplishments and better coal sales. Higher production, shipment, nickel grade and average selling price also rallied DMCI Mining’s profit contribution to P415 million in the first quarter from P26 million last year. DMCI Power also contributed a 22-percent higher income of P118 million attributed to higher electricity sales and lower fuel costs. DM Consunji Inc. doubled its contribution to P342 million, while income from parent and others stood at P13 million from a P68-million loss.

Source: Manila Times May 11, 2021 16:30 UTC