Income Of DMCI Holdings Down In H1

Diversified engineering conglomerate DMCI Holdings of the Consunji family reported a consolidated net income of P15.9 billion in the first semester, a 22% decline from P20.3 billion last year.

Photo Insert: The income drop is due to lower contributions from its coal, nickel, real estate, and construction businesses.

In a disclosure to the Philippine Stock Exchange (PSE), the firm said this is due to lower contributions from its coal, nickel, real estate, and construction businesses. The company's core net income matched its reported net income due to minimal nonrecurring items.

For the second quarter, DMCI registered a 9 percent dip in consolidated net income to P8.2 billion from P9 billion in 2022 due to lower contributions from the coal, nickel and construction businesses.

Excluding a non-recurring gain of P37 million in 2022 attributable to DMCI's gain on the sale of land and a non-recurring loss of P12 million this year due to Maynilad donations and net foreign exchange losses, consolidated core net income declined by 8.0% from P9 billion to P8.3 billion.

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