Mrc Allied, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2020
October 28, 2020 at 08:40 am EDT
Share
MRC Allied, Inc. announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced sales was PHP 558,857. Operating loss was PHP 5.812 million compared to PHP 5.660 million a year ago. Net loss was PHP 6.812 million compared to PHP 6.472 million a year ago. Basic loss per share was PHP 0.001 compared to PHP 0.001 a year ago. For the nine months, sales was PHP 961,125. Operating loss was PHP 15.567 million compared to PHP 23.576 million a year ago. Net loss was PHP 18.192 million compared to PHP 26.014 million a year ago. Basic loss per share was PHP 0.002 compared to PHP 0.003 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. 
