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Semirara net income up; firm sets share buyback.
(From BusinessWorld (Philippines))
Byline: Roulee Jane F. Calayag and Ruby Anne M. Rubio
Consunji-led coal producer Semirara Mining Corp. posted a net income of P677.61 million in the first half, up 382.73% from P140.37 million in 2004.
Unaudited income statement filed with the Securities and Exchange Commission (SEC) showed second-quarter net income also rose to P338.63 million from P85.17 million last year.
Revenues in the first half amounted to P2.3 billion against P1.8 billion the previous year with the bulk from coal sales and P32.32 million from coal handling services for the Calaca power plants.
Current assets rose to P3.21 …
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