DM Wenceslao & Associates Inc. said profit last year reached P2.37 billion, up 24 percent from the prior year’s P1.91 billion.
Revenues amounted to P3.51 billion, up 63 percent from P2.15 billion the prior year, mainly driven by sales of land and condominium units.
Revenues from recurring income streams were up 3 percent to P1.96 billion or 56 percent of total revenues,” the company said.
Revenues from leasing of land increased 1 percent to P979.1 million, rentals of buildings increased 4 percent to P793.5 million and other revenues related to leasing increased 7 percent to P186.2 million.
Revenues from land sales stood at P935.9 million, up from just P1.3 million the prior year. Residential sales stood at P547.7 million compared to P119.4 million in 2018.
