DMCI Holdings posts 25% decline in Q1 earnings

MANILA, Philippines — Engineering and construction conglomerate DMCI Holdings Inc. of the Consunji family recorded a 25-percent drop in first-quarter earnings to P5.6 billion due to stabilizing commodity prices, slashing the income of nearly all its business units. In a stock exchange filing on Wednesday, DMCI said revenues fell by 17 percent to P27.4 billion in the January to March period on lower coal, nickel, and electricity prices, as well as “lower construction accomplishments” and higher real estate sales cancellations. “Market prices pose a significant challenge for us this year,” DMCI chair and president Isidro Consunji said in a statement. […]…

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