MANILA -- Construction conglomerate DMCI Holdings on Wednesday said its first half net income went down 22 percent to P15.9 billion on the back of lower contributions from its coal, nickel, real estate and construction
businesses.

Its second quarter bottomline also dropped by 9 percent, the company told the stock exchange.

The company said net income contribution from Semirara Mining and Power Corporation dropped by 5 percent due to weaker coal selling prices.

Contribution from DMCI Mining also fell by 51 percent to P250 million from P510 million mainly because of lower selling prices, foreign exchange gains, and higher costs.

D.M. Consunji, Inc.'s contributions also sunk by 73 percent to P139 million amid slower construction accomplishments, fewer projects and delays in major projects.

DMCI Homes, however, contributed P1.4 billion, 8 percent higher from P1.3 billion on the back of higher finance.

Water distributor Maynilad also delivered a 21-percent improvement in contribution to P474 million due to the combined effect of improved billed volume, customer mix and average effective tariff.

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