Sarangani plant drives up Alsons income to P269 M

By Myrna M. Velasco – August 14, 2017, 10:00 PM

from Manila Bulletin

The full financial impact of the operation of the first block of its Sarangani coal-fired power plant had boosted the profitability of Alsons Consolidated Resources Inc, (ACR) to P269 million in the first six months, higher by 7.0-percent from P251 million on a comparative period last year.

The net income attributable to parent firm also climbed 63-percent within the January-June stretch to P85 million from the year-ago level of P52 million.

Earnings per share within this financial review period had been 75-percent higher to P0.014 from last year’s P0.008 per share.

On revenues, there had been 12-percent jump to P3.58 billion from last year’s P3.20 billion, according to the company.

Of the topline figure for this duration, it was emphasized that the chunk of P2.19 billion had been contributed by the initial 105-megawatt phase of the Sarangani facility.

According to the Alcantara firm, financial results for the first half “were right on track with its 2017 operating plan and budget,” enabling it to be poised for “significant revenue and income growth at the end of the year.”

The first unit of the company’s Sarangani generating plant was set on commercial stream last April 2016; while the next 105MW block is targeted on-line around 2019.

The power generation unit of the Alcantara group proved to be its ‘income driver’ and is set to be a major profitability contributor in the long-term with additional power projects set to be concretized.

In the line up are its 105MW San Ramon coal-fired plant in Zamboanga City; as well as renewable energy developments on hydro and solar technology genres.

The company’s recent tie-up with the Global Business Power Corporation of the Pangilinan-led group will likewise be igniting transformational changes – but is seen bringing in more favorable upshots especially in the implementation of future projects.