Al­sons in­come grows 15.2% to R274.5 M

Manila Bulletin - - Business News -

With power plant ca­pac­ity sales giv­ing suc­cor to fi­nan­cial per­for­mance, listed firm Al­sons Con­sol­i­dated Re­sources, Inc. (ACR) had posted 15.2 per­cent jump on its net earn­ings in the three quar­ters this year to R274.48 mil­lion from a leaner R238.09 mil­lion in 2016.

The Al­can­tara firm said this was chiefly “pro­pelled by the ro­bust rev­enue growth from the op­er­a­tions of the first 105-megawatt sec­tion of the Sarangani En­ergy Cor­po­ra­tion’s (SEC) coal-fired power plant.”

The $600-mil­lion SEC power plant project is cur­rently un­der­go­ing ex­pan­sion, for it to at­tain ca­pac­ity dou­bling to 210MW as an­tic­i­pated on stream around 2019.

Of the Jan­uary-Septem­ber fi­nan­cial re­sult, the com­pany sim­i­larly noted 6.9 per­cent hike in at­trib­ut­able net earn­ings to par­ent firm at R117.66 mil­lion from last year’s R110.04 mil­lion.

Con­sol­i­dated rev­enues within the nine-month re­view pe­riod had also ex­panded 6.7 per­cent to R5.22 bil­lion from R4.88 bil­lion in the same pe­riod last year.

The com­pany’s earn­ings be­fore in­ter­est, taxes, de­pre­ci­a­tion and amor­ti­za­tion (EBITDA) surged by a re­mark­able 73 per­cent to R1.28 bil­lion from R718 mil­lion a year ago; prompt­ing its EBITDA mar­gin im­prove­ment then to 35 per­cent from 23 per­cent in 2016.

Mov­ing head­way, the com­pany is quite primed for more op­ti­mistic out­look when it comes to or­ganic busi­ness growth, that will in turn bring higher value to its share­hold­ers as both its top and bot­tom lines will like­wise con­tinue to regis­ter hiked fig­ures.

“We look for­ward to an ex­cit­ing year ahead of us, as by the mid­dle of 2018, we will have three projects un­der con­struc­tion,” ACR Ex­ec­u­tive Vice Pres­i­dent Tirso G. San­til­lan has in­di­cated.

As tar­geted, the com­pany’s 15MW Siguil hy­dropower project has to be on stream by 2020, a ca­pac­ity ad­di­tion af­ter the unit 2 of the Sarangani plant which will be com­ing on-line a year ahead. (MMV)

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