Diversified engineering conglomerate DMCI Holdings Inc. expects to sustain its growth momentum in 2023 after hitting record earnings this year.
DMCI president Isidro Consunji told reporters Friday the company’s business units, power generation, coal mining, real estate, construction were expected to continue to perform strongly next year despite rising costs and higher interest rates.
Consunji said while coal prices were expected to ease from a record high, this would be offset by the power generation business which is expected to pick up in 2023.
“For 2023, I think it will be more of the same for Semirara but different mix. Power will contribute more because of the supply demand issue. If coal prices drop a little bit, this will be compensated by power,” Consunji said.
“But if coal prices does not drop, then we would be very happy,” he said.