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2016 NEWS »D.M. Consunji bags P4.4 billion worth of contracts in 1st semester
D.M. Consunji bags
P4.4 billion worth of contracts in 1st semester
Posted
on August
15, 2016
THE
CONSTRUCTION business of DMCI Holdings, Inc. has secured P4.4 billion worth of
contracts in the first semester, keeping itself on track to netting around P650
million in earnings toward the yearend.
In a
statement over the weekend, D.M. Consunji, Inc. (DMCI) said it bagged contracts
for the Spectrum BPO Building, the City Gate mixed-use development of Ayala
Land, Inc. in Makati City, a 50-million-liter water reservoir in Quezon City
and two 23-megawatt gas turbine plants in Batangas, among others.
The newly contracted projects add to the company’s major ongoing undertakings,
including the Metro Manila Skyway Stage 3, civil works for the Light Rail
Transit Line 2 (LRT-2) East and several high-rise buildings.
DMCI is looking forward to undertaking more construction projects, particularly
in the public sector, amid a government thrust to accelerate investments in
public infrastructure to amounts equivalent to as much as 6% of the country’s
gross domestic product.
“We believe that DMCI is well positioned to assist in the infrastructure
renewal plan of the Duterte administration because of our track record in
implementing complex and large-scale projects,” DMCI President Jorge A.
Consunji was quoted as saying.
The company has completed the Tarlac-Pangasinan-La Union Toll Expressway; LRT
Line 1 North Extension through a joint venture with First Balfour, Inc.; South
Metro Manila Skyway Stage 2; R10 to Tayuman Rail Line; Carmen Bridge; and Magat
Bridge, among others.
DMCI intends to work next on infrastructure projects included in the
government’s public-private partnership pipeline, particularly the construction
and maintenance of the Regional Prison Facilities in Nueva Ecija under a
P50.18-billion contract.
The company -- along with San Miguel Holdings Corp. and the Mega Structures
Consortium led by Megawide Construction Corp. -- has passed the
prequalification stage of bidding for the modern jail facility.
The proponent of the project, the Department of Justice, had wanted to auction
the contract on April 20. It would later move the bid submission to August 25
pending the resolution of issues on the project site.
Mr. Consunji is banking on the construction firm’s ability to secure more
projects as well as manage costs for a better financial performance this year,
saying: “We will do better than last year [on] more projects and tighter
controls and cost efficiencies.”
“We expect about between P600 to P700 million. Last year, we only reached
around P350 million,” Mr. Consunji noted in a media briefing in Makati City on
Aug. 10, with revenues expected to reach P14 billion or around the same amount
recorded for 2015.In the first six months of the year, DMCI has booked P397
million in net earnings, a 19% year-on-year increase from P333 million. The
improvement reflects the full recognition of cost overruns for a power plant
project back in 2015.
“In 2015, we generated strong revenues but costs were recognized later. That is
why our profit went up in the first half and when the cost was recognized in
the second half, our profit dropped,” Mr. Consunji noted. -- Keith Richard D. Mariano
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