DMCI core falls10%

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    DMCI Holdings Inc., said profit for the first nine months of the year reached P9.3 billion, down 11 percent from P10.4 billion last year due to lower income contributions from Semirara Mining and Power Corp. (SMPC), D.M. Consunji, Inc. (DMCI) and DMCI Mining Corp.

    Core net income during the same period contracted by 10 percent from P10.3 billion to P9.3 billion.

    DMCI Holdings said core net income contributions from SMPC dropped 14 percent at P4.7 billion from P5.4 billion, following a 17 percent decline in power generation and a 22-percent drop in coal prices.

    DMCI Homes contributed P1.8 billion core income, flat compared to the same period last year due to lower percentage of completion in ongoing projects,

    Core net income contributions from affiliate Maynilad Water Services, Inc. grew 6 percent from P1.5 billion to P1.6 billion owing to a 2-percent growth in billed volume, a 5.7 percent inflation rate adjustment and a 2.7 percent increase in basic charge.