DMCI nets P3.9B in 9M

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    DMCI Holdings Inc. reported a profit of P3.9 billion in the first nine months of the year, down 58 percent from P9.3 billion last year.

    Revenues declined 33.35 percent to P43.91 billion from P65.89 billion a year ago.

    Construction earnings deteriorated because of lower productivity and extraordinary expenses related to the coronavirus.

    Core profit contributions from Semirara Mining and Power Corp. dropped 64 percent to P1.7 billion compared to P4.7 billion last year.

    DMCI Homes contributed P1.1 billion in core profit, 40 percent lower than the P1.8 billion recorded last year.

    From P664 million, D.M. Consunji Inc. booked a net loss of P97 million because of expenses related to COVID-19.

    DMCI Power grew profit by 18 percent to P403 million from P341 million last year while DMCI Mining posted a profit of P252 million, up 190 percent from P87 million last year.

    Contributions from affiliate Maynilad Water Services Inc. fell 22 percent from P1.6 billion to P1.2 billion.