Alsons forecasts profit growth in 2015

THE Alcantara family’s Alsons Consolidated Corp. (ACR) expects better profitability in core operations this year as it expands power capacity.

In a regulatory filing, Alsons said its net income attributable to the parent firm was expected to reach P613 million.

Alsons was mum, however, on its forecast for consolidated net income and core net income.

ACR also forecast revenue of P6.1 billion in 2015, coming mainly from the projected start of commercial operations of the first 105 megawatts of Sarangani Energy Corp.’s 210-MW coal-fired power plant in the fourth quarter of 2015.

For 2014, net income attributable to the parent firm from continuing operations was at P359 million (44 percent higher than the P249 million yielded in 2013).

ACR reported higher core net income, which excludes one-time gains/losses, of P727 million in 2014, 28 percent up from P569 million.

However, consolidated net income of P727 million was slightly down from P765 million due to the impact of discontinued operations, which earned income of P196 million in 2013.

In terms of revenue, ACR reported a 55-percent increase to P5.2 billion in 2014 from P3.3 billion in 2013.

The growth in 2014 revenue came mainly from the full-year operation of the 103-megawatt (MW) Mapalad Power Corp. diesel plant in Iligan City. The MPC plant was reacquired and rehabilitated in 2013, starting commercial operations in September 2013.

Apart from the MPC diesel plant, ACR’s operating power generation facilities are the Southern Philippines Power Corp.’s 55-MW plant in Alabel, Sarangani province and the 100-MW western Mindanao Power Corp. plant in Zamboanga CIty.

All three diesel plants have helped ease the power shortage in Mindanao.

ACR is developing coal-fired power facilities to help provide a stable source of baseload power for Mindanao and ensure long-term power security for the island.

These facilities are the 105-MW San Ramon Power Inc. plant in Zamboanga City and the 210-MW Sarangani Energy Corp (SEC) plant in Maasim, Sarangani.

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