Alsons Consolidated reports 52% increase in nine-month net profit

Alcantara Group's Alsons Consolidated Resources Inc. on Friday reported a net income attributable to the parent of P363.3 million in the first nine months of 2013, up 52 percent from P239.6 million last year.

 

The company noted in a disclosure that revenues surged by 42 percent to P2.34 billion from P1.65 billion mainly due to contributions of Mapalad Power Corp., which started operating in the first half.

 

Mapalad Power operates the 98-megawatt diesel facility in Iligan City.

 

Last March, Alsons Consolidated said rehabilitation work began on March 11, with the plant expected to operate on ramp up basis in April and was targeted to reach its full capacity by September.

 

For the whole year, the company targets total revenue to hit P4.2 billion and net income attributable to the parent at P66.1 million. — OMG, GMA News