DMCI Holdings Inc., the listed holding company of the Consunji family, posted an unaudited net profit of P8.84 billion in 2010, up 62 percent from P5.2 billion in 2009, on the strong performance of core businesses.
DMCI said in a disclosure to the stock exchange that consolidated revenues rose 46 percent to P43.5 billion from P27.9 billion a year ago on higher sales of construction, mining, real estate and power units.
DMCI’s construction business generated revenues of P10.8 billion in 2010, slightly higher than a year- ago level and contributed P10.6 billion to the company’s income. The real estate unit booked P7.8 billion in sales, up 10 percent from P6.9 billion a year ago, and contributed P1.27 billion to the profit.
Mining unit Semirara Mining Corp. recorded revenues of P16 billion in 2010, up 38 percent from P11.6 billion in 2009, and contributed P2.1 billion to DMCI’s net profit. The power business, mainly through the Calaca plant in Batangas province, generated sales of P8.9 billion, up from just P443 million in 2009.
DMCI’s water unit Maynilad Water Services Inc., a joint venture with Metro Pacific Investments Corp., contributed P1.8 billion in income to the parent company.
DMCI’s financial performance last year includes revenues from the sale of company’s entire stake in steel fabrication unit Atlantic Gulf & Pacific Company of Manila Inc. for P1.75 billion.
DMCI, meanwhile, said construction unit DM Consunji Inc. bagged P9.3 billion worth of projects. They include the P8.5-billion entertainment city project of Sureste Properties Inc. in joint venture with Bloomberry Hotels and Resorts Inc. Construction will take 22 months.