In a filing to the local bourse on Wednesday, DMCI said its profit reached ₱15.9 billion – 22% lower than the ₱20.3 billion posted a year ago. In the second quarter, earnings also went down by 9% to ₱8.2 billion.
The group attributed this to lower contributions from its coal, nickel, real estate, and construction businesses. Its Semirara Mining and Power Corporation had a net income contribution of ₱5.8 billion. DMCI Homes contributed ₱1.4 billion, while affiliate Maynilad had ₱474 million."Our bottom line was propped up by the strong rebound of our power and water businesses," said DMCI Holdings chairman and president Isidro Consunji."Although coal and nickel prices dropped double digits and construction volumes are on a downtrend, we were able to deliver our second highest [second quarter] ever.