MANILA - DMCI Holdings Inc. sees earnings growing by a tenth this year to a "little below" P11 billion, barring any bad news from China, the company's president said on Wednesday.
This is slower than the 22-percent rise in net income last year to P9.6 billion.
Isidro Consunji said coal operations of Semirara Mining Corp. may be flat for the year on lower prices. The contribution of its coal business rose by 63 percent to P2.38 billion last year.
"Hopefully, the increased income of the power operations will somewhat offset the reduction of price of coal," Consunji said.
Semirara is set to begin the operation of a 300-megawatt power plant in Calaca in the next few days after "technical problems" delayed its rehabilitation by two months.
Earnings of property firm DMCI Project Developers Inc. is "doing very well," but the rate of increase will not be as huge because of the bigger base. The housing segment raised its contribution by 40 percent to P1.3 billion in 2011.
DMCI Mining Corp. is looking at acquiring "several" nickel mines within a year given the current direction of Benguet to operate on its own and the Acoje mining operations with European Nickel looking to follow suit.
Construction arm D.M. Consunji Inc. expects additional projects as it benefits from the property boom, while the impact of the government roll out of its public-private partnership projects may kick in next year.
source: interaksyon.com
