DMCI Holdings Reports Net Income of ₱1.9 Billion in Q3

DMCI Holdings Inc. (DMCI) reported a net income of ₱1.9 billion for the third quarter of 2020, a 34% drop from ₱2.8 billion a year ago.

DMCI reported a year-to-date net income of ₱3.9 billion, a 58% drop from ₱9.3 billion for the same period last year.

Isidro A. Consunji, DMCI Holdings Chairman and President, said “Among our businesses, Semirara and DMCI were hit hardest by the COVID-19 pandemic. We saw sharp drops in demand and prices for both coal and electricity because of the economic slowdown,”

“Construction earnings deteriorated because of lower productivity and extraordinary expenses related to the coronavirus,” Consunji added.

Source: ABS-CBN