8990 Holdings Inc. recorded profit of P3.649 billion in the first half of the year, up 5.5 percent from P3.458 billion in the same period last year.
Revenues reached P10.05 billion, up 0.4 percent from P10.01 billion last year.
“The National Capital Region (NCR) accounted for bulk of the total revenues, at 54 percent.
North Luzon and Davao each contributed 14 percent, Cebu/Ormoc 9 percent, Iloilo/Bacolod 7 percent, and South Luzon and General Santos at 1 percent each,” the company said.
“Due to effective expense management, gross margin remains at 50 percent, whereas net margin rose slightly from 35 percent to 36 percent,” it added.
8990 delivered 5,364 units to homeowners for the period. NCR accounted for 37 percent, followed by Iloilo/Bacolod at 17 percent. Davao accounted for 16 percent; North Luzon 15 percent; Cebu and Leyte 9 percent; General Santos 4 percent; and South Luzon 2 percent.
Anthony Vincent Sotto, company president, said 8990 is on track to hit its revenue target of P23 billion this year.
The company is banking on its inventory of 3,292 units worth P3.6 billion in sales across all projects nationwide.
“Of this inventory, Bulacan accounts for P963 million, Davao/Gensan P709 million, Ortigas P708 million, and Iloilo/Bacolod P523 million. Cubao has potential sales of P359 million and Cebu/Ormoc P327 million,” he said.
