Marcventures Holdings, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2020
November 18, 2020 at 11:42 pm EST
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Marcventures Holdings, Inc. announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced sales was PHP 601.453 million compared to PHP 559.790 million a year ago. Operating income was PHP 71.186 million compared to PHP 90.348 million a year ago. Net income was PHP 25.659 million compared to PHP 52.748 million a year ago. Basic earnings per share from continuing operations was PHP 0.01 compared to PHP 0.02 a year ago. For the nine months, sales was PHP 1,762.750 million compared to PHP 737.148 million a year ago. Operating income was PHP 311.046 million compared to operating loss of PHP 141.470 million a year ago. Net income was PHP 163.179 million compared to net loss of PHP 183.182 million a year ago. Basic earnings per share from continuing operations was PHP 0.05 compared to basic loss per share from continuing operations of PHP 0.06 a year ago.
Marcventures Holdings, Inc. is a Philippines-based holding company. The Companyâs subsidiaries include Marcventures Mining & Development Corporation (MMDC), BrightGreen Resources Corp. (BRC), Alumina Mining Philippines Inc. (AMPI) and Bauxite Resources Inc. (BARI). MMDC operates a nickel in the Municipalities of Cantilan, Carrascal and Madrid in the Province of Surigao del Sur, covering an area of approximately 4,799 hectares (ha). BRC is an exploration-stage company, which holds MPSA No. 015-93-XIII, covering approximately 4,860 ha of the Municipalities of Carrascal and Cantilan in the Province of Surigao del Sur. AMPI holds MPSA No. 179-2002 VIII (SBMR) with an area of 6,694 ha located in Motiong, San Juan De Buan and Paranas, Province of Samar. BARI holds MPSA No. 180-2002 VIII (SBMR) with an area of 5,519.01 ha located in Gandara, San Jorge and San Juan De Buan, Province of Samar. The primary mineral in AMPI and BARI is bauxite, the main raw material of aluminum.
MARCVENTURES HOLDINGS, INC. 
