Alsons Consolidated Resources H1 income rises 31% to P1.7B

MANILA, Philippines — Alsons Consolidated Resources (ACR) posted a 31 percent jumped in first-semester profit to P1.7 billion from P1.3 billion on higher energy deliveries and growing retail electricity sales business.

On Friday, the company shared net income attributable to the parent rose by 66 percent to P860 million from P517 million.

READ: Alsons posts 15% rise in Q1 net income

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Likewise, Alson’s revenues surged by 58.8 percent to P9.17 billion from the previous P5.77 billion.

The company further noted earnings before interest, taxes, depreciation, and amortization rose to P4 billion from P2.94 billion.

Meanwhile, Alsons is the listed firm of the Alcantara Group, a conglomerate rooted in Mindanao.

Alsons’ first-half earnings increased due to strong core business results and improved cost management and efficiency.

“Our first-half performance demonstrates our ability to deliver on our commitments, even under challenging conditions. As we navigate the challenges and expand our presence in the electricity market, we remain true to providing dependable power to our customers while positioning the company for sustainable long-term growth,” ACR chief finance officer Roberto Joaquin Ramos said in a statement.

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READ: Alsons scales up renewable energy portfolio

Alsons operates six power plants with a total capacity of around 515 megawatts in the Visayas and Mindanao regions.

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Its portfolio includes the Sarangani Energy Corp. in Sarangani, Western Mindanao Power Corp. in Zamboanga City, Mapalad Power Corp. in Iligan, Mapalad Power Corp. in Ubay, Southern Philippines Power Corp. in Alabel and Siguil Hydro Power Corp. in Sarangani.

Alsons is working on two big solar projects in General Santos City and Sarangani, aiming to finish them next year. The company targets to complete the facilities next year.

Alsons is planning more renewable projects to increase its clean energy assets. /pai