The weaker performance of its energy, real estate and mining subsidiaries pulled down the first-semester profit of Consunji-led DMCI Holdings Inc. by 29 percent to P11.1 billion.
In a stock exchange filing on Tuesday, DMCI said there were reduced contributions from the coal mining, on-grid power and construction subsidiaries, along with a net loss in the nickel mining business.
This was partially offset by improvements in its water and off-grid power segments, DMCI said.
In the second quarter alone, the engineering conglomerate’s net income fell by 32 percent to P5.5 billion.
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The article was originally published in Inquirer and written by Meg J. Adonis.
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