DMCI books P3.5B plants, condo projects in Q3


D.M. Consunji Inc.’s third quarter construction booking reached P3.5 billion.

Based on its disclosure to the Philippine Stock Exchange, the construction contracts include the rehabilitation of the La Mesa Water Treatment Plant 2 operated by DMCI subsidiary Maynilad Water Services Inc. and construction of a 32-storey condominium building of Grand Pine, Inc., Maven at Capitol Commons of Ortigas& Co., and a petrochemical plant of JG Summit Petrochemical Corp.

DMCI President and Chief Executive Officer Jorge A. Consunji said the healthy order book from repeat clients and leading corporations is expected to sustain the company’s double-digit earnings growth for the whole year.

From January to September this year, DMCI was able to sign over P14 billion worth of new contracts, an 88 percent improvement from P7.9 billion last year.

DMCI’s net income during the same period increased 35 percent from P670 million to P904 million due to higher percentage of completion for ongoing projects and additional revenue from contract modifications. PNA/rw: wjg