Weaker energy, construction drag DMCI earnings

Earnings of DMCI Holdings Inc. of the Consunji family fell by more than a fifth in the nine months ending September due to weaker earnings from the integrated energy and construction segments.

- — Richmond Mercurio

DMCI reported a net income of P11.8 billion from January to September, a 22 percent year-on-year decline from P15.1 billion in the same period last year.

DMCI said the ongoing integration of its acquired cement business also resulted in the contraction of its profit during the period.

Stronger performance from real estate, nickel mining and off-grid power generation, as well as higher equity earnings from associates partially offset the decline.