MRC Allied, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2021
October 25, 2021 at 09:00 pm EDT
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MRC Allied, Inc. reported earnings results for the third quarter and nine months ended September 30, 2021. For the third quarter, the company reported sales was PHP 0.677375 million compared to PHP 0.558857 million a year ago. Net loss was PHP 6.03 million compared to PHP 6.81 million a year ago. Basic loss per share from continuing operations was PHP 0.001 compared to PHP 0.001 a year ago.
For the nine months, sales was PHP 1.67 million compared to PHP 0.961125 million a year ago. Net loss was PHP 17.99 million compared to PHP 18.19 million a year ago. Basic loss per share from continuing operations was PHP 0.002 compared to PHP 0.002 a year ago.
MRC Allied, Inc. is a Philippines-based holding company. The Company, through Menlo Renewable Energy Corporation (MREN), operates 550 kilowatt-power (kWp) solar photovoltaic (PV) rooftop systems for a rice milling plant in Northern Luzon. It has a 15% ownership in Sulu Electric Power and Light (Philippines) Inc., which owns and operates a 50-megawatt solar project located in Palo, Leyte. The principal asset of the Company consists of two land banks. The first is a 160-hectare industrial estate in Naga City, Cebu and the second consists of 700 hectares of raw land in San Isidro Municipality, Leyte, known as Amihan Woodlands Township (AWT). Located thirty-five (35) kilometers away from the Mactan International Airport, the industrial estate in Naga City, known as the New Cebu Township One (NCTO). The Company's subsidiaries include MRC Tampakan Mining Corporation (MRC Tampakan), MRC Surigao Mines, Inc. (MRC Surigao) and Makrubber Corporation (Makrubber).
MRC ALLIED, INC. 