Semirara profit drops 53% as prices decline - BusinessWorld Online

Semirara profit drops 53% as prices decline - BusinessWorld Online

SEMIRARA MINING and Power Corp. posted a 53% year-on-year decline in third-quarter net income to P1.48 billion, as weaker global coal and electricity prices offset higher production and sales volumes. Consolidated revenues fell 9% to P11.93 billion, with lower selling prices across both coal and power segments despite improved operating performance, the Consunji-led company said in a stock exchange filing on Monday. Coal revenues slipped 1% to P…