March 24, 2013

ACR Net Income Up 12%

ALsons Consolidated Resources Inc. (ACR) reported 2012 revenues of P3.07 billion, an increase of 6% YOY. The increased revenues were mainly from the higher sales of the electric and water utilities inside the Lima Technology Center in Batangas.

Consolidated net income was lower by 11% to P1.08 billion but net income attributable to the parent grew 12% to P508.6 million. Hence EPS grew to 0.081 per share from P0.072 in the year ago period.

ACR's Board of Directors also approved the payment of cash dividends of P0.16 per share on June 14, 2013 to stock holders on record as of May 23.

Alsons Power Group won the bid for the rehabilitation of the 98 MW Iligan Diesel Power Plant. The plant is expected to begin operations on a ramp-up basis by April this year reaching full capacity by September.