Alsons income rises 26% to P610M in H1

MANILA, Philippines - Alsons Consolidated Resources Inc. (ACR), the publicly-listed holding company of the Alcantara Group, reported a net income of P609.8 million in the first semester of the year, 26 percent more than the P485.1 million recorded a year ago.

This as revenues rose 12 percent to P1.67 billion during the period from P1.49 billion a year ago, the company said in a disclosure to the Philippine Stock Exchange (PSE).

“The improved net income was aided by the booking of project development fees as other income coming from Sarangani Energy Corp. Earnings per share were at P0.043 in the first half of 2013 as against P0.026 for the first half of 2012,” ACR said.

By business segments, ACR’ power generation and power plant management subsidiaries emerged as the biggest contributors to the company’s revenue growth.

Energy fees earned by the Mindanao-based diesel power facilities rose 13 percent in the first half to P1.18 billion from P1.05 billion a year earlier.

In Mindanao, ACR operates power generation facilities run by its subsidiaries, including Southern Philippines Power Corp.’s 55-megawatt (MW) plant in Alabel, Sarangani; the 100-MW Western Mindanao Power Corp. plant in Zamboanga City; and the newly revamped Mapalad Power Corp. plant in Iligan City which began operating in the first half of 2013.

On top of these, the company is also developing two coal-fired facilities – the 105-MW San Ramon Power Inc. plant in Zamboanga City and the 210-MW Sarangani Energy Corp. (SEC) plant in Maasim, Sarangani. The first 105-MW phase of the SEC plant is currently under construction and will begin operating in 2015. ACR owns 75 percent of SEC with 25 percent equity held by Toyota Tsusho Corp. – the trading company of the Toyota Group, Alsons said.

The second largest revenue contributor is LiMA Technology Center (LTC) in Malvar, Batangas, an industrial estate joint venture with Japan’s Marubeni Corp. with power and water utility sales to LTC locators surging 16 percent to P452 million in the first half of 2013 from P390 million in the first half of 2012.

The Alcantara Group is also engaged in aquaculture and agribusiness, real property development and services.