CONSUNJI-LED diversified conglomerate DMCI Holdings Inc. saw nine-month net income for 2024 drop 23 percent to P15.1 billion, from P19.6 billion a year ago, on weaker contributions from certain key business segments.
For the third quarter alone, however, it said that net income had grown 3 percent to P4 billion on higher contributions from the water, power, construction, and nickel businesses, 'mitigating the impact of weaker results from coal mining and real estate.''Each of our businesses has been affected differently by the new normal in an increasingly complex environment,' DMCI Chairman and President Isidro Consunji said.
Maynilad Water Services saw net income surge 55 percent year-on-year to P921 million on higher billed volume and increased average effective tariffs coupled with lower cash costs.For the property segment, DMCI Homes contributed P768 million in attributable net income, down 36 percent from last year, on lower real estate revenues that were partially offset by increased contributions from joint-venture construction revenues, rentals and forfeitures, and finance income.
Jan-Sept Profit Plunges 23% To P15B
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