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DMCI bottom line rises 19%

MANILA, Philippines — DMCI Holdings Inc. posted a nine-month net income of P11.7 billion, up 19 percent on strong  contributions from coal, real estate, construction.

Isidro Consunji, chairman and president of DMCI Holdings, said the company sees an even strong year in 2018.

 Excluding a one-time gain of P111 million from the sale of its 10 percent stake in Subic Water and Sewerage Co. last year, core net income from January to September rose 20 percent to P11.7 billion.

In the third quarter, DMCI Holdings reported a net profit of P4.1 billion, an improvement of 18 percent year-on-year.

Consunji said the slowdown in the coal energy business would temper growth in the last quarter.

“Operating costs will be higher due to higher stripping ratio. One of the power plants is also on shutdown, which will last until mid-December,” he said.

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 He also noted that earnings from the real estate business would be weaker despite strong sales and reservation.

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