DMCI looks at Maynilad, off-grid power for growth
DMCI Holdings Inc. reeled from losses at its newly acquired cement business and lower coal prices at its energy unit.
This resulted in a 9-percent decline in first-quarter earnings. However, the engineering conglomerate is optimistic it would get higher returns from its water and off-grid power businesses.
The company disclosed on Wednesday its net income during the period slipped to P5.1 billion from P5.6 billion previously.
According to DMCI, higher gains from its real estate, water, nickel mining and off-grid power units offset a steeper decline.
“Market conditions today are very different from five years ago, but our businesses have adapted well,” DMCI chair and CEO Isidro Consunji said.
