CLI profit up 42% in 2021

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Cebu Landmasters Inc. (CLI) said profit last year reached P2.61 billion, up 42 percent from 2020’s P1.85 billion.

Revenues amounted to P11.16 billion, up 35 percent from P8.3 billion, driven by project completions. Sales reservations were at P16.5 billion, up 16 percent from the previous year.

This was on account of solid housing demand in the Visayas and Mindanao particularly in the economic and mid-income segments, the company said.

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It added it now has P25 billion in unrecognized revenues, up 23 percent.

“With its 2021 results, the company has effectively surged past its 2019 pre-pandemic bottomline by 30 percent,” the company said. It closed 2019 with profit of P2 billion.

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