Alsons Consolidated reports 12% increase in 2012 net profit

Alsons Consolidated Resources Inc. on Monday reported a net income of P508.6 million last year, up 12 percent from P455.9 million a year earlier.   The company noted in a disclosure to the Philippine Stock Exchange revenues rose 6 percent to P3.07 billion, mainly on higher sales of the electric and water utilities inside the Lima Technology Center in Batangas.   It disclosed that Alsons Power Group has taken over the 98 megawatt Iligan diesel power plant which was acquired from the City of Iligan through bidding in 2011.   Rehabilitation work began on March 11, 2013 and the plant is expected to operate on ramp up basis next month with the objective of reaching its full 98 megawatt capacity by September.   With this the plant will be able to provide additional power for Mindanao, which is currently experiencing a debilitating power shortage.   The board of Alsons Consolidated also approved a P0.16 per share cash dividend payable on  June 14, 2013 to stockholders on record as of May 23. — VS, GMA News