Alsons Consolidated Resources Inc., (ACR) recorded an 18 percent growth in net income in the first nine months to P1.35 billion from P1.14 billion in the same period in 2021.
ACR noted constant improvement in power demand in Mindanao as day-to-day activities in the island continue to normalize and recover from the effects of the pandemic.
ACR booked a 31 percent jump in its revenues at P9.25 billion for the period compared to last year’s P7.05 billion.
“We expect power demand in Mindanao to be stable for the rest of the year,” added Philip Edward Sagun, ACR deputy chief financial officer, in a statement.
ACR is currently focused on building up its renewable energy capacity in the next few years, with around eight run-of-river hydroelectric power facilities in the company’s pipeline.
