DMCI Holdings Inc., led by Consunji, is eyeing another round of special dividends this year, after doubling its core net income in the second quarter on the back of growth in its core businesses during the period.
The company’s basic net income from April to June rose 113 percent to 9 billion pesos from 4.2 billion pesos last year.
This excludes 37 million pesos of one-time gains related to deferred tax liabilities due to the Corporate Recovery and Tax Incentives for Enterprises (CREATE) enacted in March 2021.
Consolidated profit for the quarter rose 73% from 5.2 billion pesos to 9 billion pesos as coal, electricity and nickel prices rose in line with higher business revenue company real estate.
Semirara Mining and Power Corp. (SMPC) contributed 6.1 billion pesos in the quarter, up 161% from 2.3 billion pesos last year, while DMCI Homes recorded a 63% increase in contributions to 1.3 billion pesos against 804 million pesos.
DM Consunji Inc. recorded a 467% growth in contributions to 516 million pesos from 91 million pesos, DMCI Mining up 27% to 510 million pesos from 403 million pesos and DMCI Power up 35% at 205 million pesos against 152 million pesos.
DMCI Holdings associate Maynilad Water Services Inc. reported a 9% decline in contributions for the quarter, from 431 million pesos to 393 million pesos, due to stable billed volume and lower costs. higher.
The latest figures pushed first-half basic net profit up 144% to 20.3 billion pesos from 8.3 billion pesos, higher than the annual net profit of 18.4 billion pesos recorded in 2021.
“We had a very strong first half due to high market prices. If the current trend continues through October, we hope to declare another round of special dividends for our shareholders before the end of the year,” he said. said DMCI Holdings President and Chairman Isidro Consunji in an emailed statement. —RSJ, GMA News