Alsons Consolidated Resources Inc. said Friday core net earnings increased to P871.16 million in the first half from P672.97 million in the same period last year.
Alsons also reported higher core net earnings in the second quarter at P492.39 million, compared to P362.49 million a year ago.
Net income declined to P871.16 million from P1.393 billion in the six-month period last year.
Core net income attributable to the parent was up in the first six months to P267.06 million from P133.34 million in the first half of 2020, while attributable core net income in the second quarter rose to P174.18 million from P78.25 million a year earlier.
The publicly-listed company of the Alcantara Group reported revenues of P4.63 billion in the first half and P2.47 billion in second quarter.
ACR’s 210 megawatt Sarangani Energy Corp. coal-fired power plant continued to be the key revenue and income driver for the company.
The SEC power plant provides power to key areas in Mindanao including Sarangani Province, General Santos, Cagayan de Oro, Iligan, Dipolog, Dapitan, Pagadian, Samal, Tagum, Kidapawan and Butuan.
The $570 million power plant is the single largest investment in Sarangani Province and the entire Region 12.
Alsons has a portfolio of four power facilities with an aggregate capacity of 468 MW serving over eight million people in 14 cities and 11 provinces in the country’s second largest island.
The company expects to add another power plant to its portfolio as it is building a P4.5-billion,14.5-MW hydroelectric power plant at the Siguil River basin in Sarangani Province.
The company is focusing on renewables over the long term with seven more hydroelectric plants in various stages of development.