With its power group’s exceptional turnout despite the whack of a pandemic, Alcantara-led firm Alsons Consolidated Resources Inc. (ACR) flourished with phenomenal consolidated net earnings jump to P1.39 billion from a comparatively moderate profitability level of P293.08 million in the same period last year.
The second quarter of the year had been its “best performance period” so far, with its earnings inching up to a record P1.08 billion from P188.72 million in the same quarter in 2019. Gauging from that financial outcome, the company’s net earnings attributable to the parent firm hovered at P331.98 million within six-month stretch, as against a leaner P23.38 million in the same period last year.
From April to June, attributable income also swung higher to P276.90 million compared to the year-ago level of P17.27 million. On the revenue front, this climbed to P5.28 billion in the first half for the Alcantara firm from P3.10 billion last year. For the second quarter alone, revenues surged to P3.07 billion from P1.87 billion on comparative months in 2019.
Leaning on the availability of its existing assets, Philip Edward B. Sagun, deputy chief financial officer of ACR, noted that “for the rest of the year, we remain cautiously optimistic on the financial performance of the company.”
He added “we expect higher revenues and profit margins from the full commercial operations of the Sarangani Energy Plant,” while emphasizing that the firm “will also reap the benefits of lower operating costs as we continue to maintain cost efficiency measures.”