Alsons Consolidated Resources Inc. (ACR) doubled its consolidated net income last year to P1.87 billion from P974 million the previous year driven by the full operation of its power plants and the continuing demand for electricity in Mindanao despite quarantine measures.
ACR’s consolidated revenues rose 39 percent to P9.47 billion from 2019’s P6.80 billion.
“Our power facilities have continued to dispatch power to our customers in order to ensure that the people of Mindanao have access to a reliable and steady supply of electricity in these difficult times.
This year will see us continuing to pursue our new power projects in Sarangani Province, Zamboanga City, Zamboanga del Norte and Negros Occidental.
This is our own contribution to the economic recovery of our country by helping create new jobs and stimulate the local economies in these areas,” said Tirso Santillan, ACR’s executive vice president, in a statement. – Jed Macapagal