Alsons Consolidated Resources Inc. reported Monday net income declined 21 percent in the first half to P689 million from P871 million year-on-year.
The publicly-listed company of the Alcantara Group also posted a 25-percent drop in net earnings to P364.93 million in the second quarter from P492.39 million on year.
The company attributed the lower income figures to a one-time recognition of expenses this year.
Alsons booked higher revenues of P5.4 billion in the first six months from P4.63 billion in the same period last year. Second-quarter revenues were also higher this year at P2.73 billion from P2.47 billion in the same period last year.
The 210 megawatt base-load power plant pf Sarangani Energy Corp. continued to be the key revenue and income driver of Alsons. Alena Mae S. Flores