Alcantara-led ACR reports 52% surge in profit amid strong power demand in Mindanao

Alsons Consolidated Resources (ACR) of the family of bilyonaryo Tomas Alcantara, achieved a steady growth with a 52 percent jump in last year’s profit to P617 million due to the robust demand for power in Mindanao.

The company’s revenues also increased by 19 percent to ₱12 billion, thanks to the continuous growth of power demand in the region.

ACR’s deputy chief financial officer, Philip Edward B. Sagun, said that the day-to-day activities on the island are gradually getting back to normal after the pandemic.

The Sarangani Energy Corporation (SEC), ACR’s 210 MW baseload power plant, remained the primary revenue and income driver for the company.

It supplies power to crucial areas in Mindanao, including Sarangani Province, General Santos, Cagayan de Oro, Iligan, Dipolog, Dapitan, Pagadian, Samal, Tagum, Kidapawan, and Butuan.

Additionally, the company’s 100 MW Western Mindanao Power Corporation diesel plant in Zamboanga City also contributed significantly to ACR’s revenue growth for the year.

Inflation eases to 6.1% in May

The country’s inflation rate eased to 6.1 percent in May, the lowest year-on-year figure recorded since July 2022, according to a report released by the Philippine Statistics Authority (PSA).

Read More »