MANILA -- Alsons Consolidated Resources Inc. saw its net income rise 12% to P508.6 million in 2012 from P455.9 million in the previous year.

This was driven by a 6% growth in revenues to P3.07 billion last year, the firm said in a disclosure on Friday.

"The increased revenues came mainly from the higher sales performance of the electric and water utilities located inside the Lima Technology Center in Batangas owned by subsidiary Lima Land Inc.," Alsons said.

Alsons President Tomas Alcantara said in the disclosure the firm has now taken over the 98-megawatt Iligan Diesel Power Plant which the company acquired in 2011.

"Rehabilitation work began on March 11 and the plant is expected to be able to begin operating on a ramp up basis within April 2013 with the objective of reaching its full 98MW capacity by September 2013," Alsons said.

The plant is expected to become an additional source of power for Mindanao, the firm noted.

Alsons on Friday announced a cash dividend of P0.016 per share to paid out on June 14 to stockholders of record on May 23.

Aside from investments in energy and power, the company is also engaged in property development and mining.