CONSTRUCTION FIRM D.M. Consunji, Inc. said its order books grew by more than twice in the first semester, with the bulk of contracts being infrastructure projects.
In a statement on Thursday, the company under DMCI Holdings, Inc. said it booked contracts worth P65.8 million between January and June, up 152% over the same months in 2019, boosted by the P958-million contract to build a warehouse complex in Batangas which it bagged in January.
The “strong” order book will sustain the company for the next three years, according to D.M. Consunji President and Chief Executive Officer Jorge A. Consunji.
Infrastructure projects make up P18.3 billion of the order book, while joint-venture contracts form P24.9 billion. About P13.3 billion are plant and utilities construction jobs, P7.5 billion are building contracts, and the remaining P1.8 billion are energy projects.
D.M. Consunji said it had P21.3 billion in balance of work at end-June from its joint-venture contract to develop the first package of North-South Commuter Railway project of the Department of Transportation.
The company is also participating in building the Metro Manila Skyway Stage 3, Cavite-Laguna Expressway, LRT-2 (Light Rail Transit 2) East Extension, and NLEx-SLEx (North Luzon Expressway-South Luzon Expressway) Connector Road.
The construction unit’s net profit dwindled by 83% to P79 million between January and June mainly due to lower construction accomplishments and higher operating costs amid the quarantine restrictions to contain the global coronavirus pandemic. — Adam J. Ang