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Manila Bulletin devider Business devider DMCI's order book slightly decline as of Sept.

DMCI's order book slightly decline as of Sept.

Published Dec 1, 2022 05:08 am

DMCI's order book slightly decline as of Sept.

By James A. Loyola

Premier contractor D.M. Consunji, Inc. (DMCI) saw a moderate decline in its order book at the end of September 2022 due to the slowdown in project bidding and contract awarding both from the public and private sectors.

In a statement, the firm said its order book slipped by 8 percent to P45.3 billion at the end of the first nine months of the year from P49.3 billion at the end of 2021.

This, after P8.4 billion worth of contracts and P1 billion in change orders were recorded against P13.3 billion in construction accomplishments during the same period.

“We expect formidable headwinds over the medium-term on persisting high inflation, rising interest rates and anemic demand for commercial and office spaces,” said DMCI President and CEO Jorge A. Consunji.

DM Consunji Inc. President and CEO Jorge A. Consunji

He added that, “Public infrastructure projects could provide some upside but it would still depend on the rollout strategy and spending priorities of the national government.”

In the third quarter alone, DMCI bagged Contract Package 102 of the Metro Manila Subway Project, a primary pipeline project in Muntinlupa, a multi-specialty building in Manila, among others.

The firm is aiming to get contracts for three more sections of the subway project through partnerships with foreign companies and is just waiting for the government to announce the winning bidders.

DMCI reported a nine-month net income of P796 million, a 1-percent uptick from P785 million compared to the same period last year.

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Jorge A. Consunji D.M. Consunji Inc.
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