Alsons' 9-month profit falls 40%


Posted at Nov 13 2012 11:30 AM | Updated as of Nov 13 2012 07:30 PM

MANILA, Philippines - Listed Alsons Consolidated Resources saw its net income decline 40% to P239.6 million in the nine months to September due to a one-time gain recorded last year.

Revenues of the company went up 9% to P2.27 billion from P2.08 billion, mainly comprised of earnings from the firm's power generation units, Alsons said in a statement.

The firm noted "Although the expected operation of the Iligan Diesel Power Plant may not be able to significantly contribute to this year, ACR (Alsons) still expects it can catch up and hit its budgeted net income of P457 million by yearend 2012."

Core businesses of Alsons, the listed holding firm of the Alcantara Group, include energy and power, property development, and other investments.