DMCI Holdings Inc. said its consolidated net profit last year fell 67 percent to P1.38 billion because of smaller gain from the sale of shares in its coal mining business.
Gains totaled P356 million last year, compared to P2.3 billion in 2005, the company said in its annual report.
Net recurring profit in 2006 was about P1 billion, down from P1.9 billion in 2005 due to weaker contribution from its 58 percent owned subsidiary, Semirara Mining Corp., it said.
DMCI, which is also engaged in the construction business, last year acquired a substantial stake in Maynilad Water Services through a joint venture with Metro
Pacific Investments Corp.
It recently signed a nickel mining venture with Asian Strategic Resources and
Properties Corp., a wholly owned unit of Australia-listed Rusina Mining NL, in Zambales, north of the capital Manila.
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