Cebu Landmasters Inc. looks to spend P14.5 billion this year, up 12.4 percent from the prior year’s P12.9 billion, to continue its projects.
The company yesterday reported a 29 percent increase in profit last year to P4.64 billion from P3.6 billion in 2022 attributed to a solid 20 percent increase in consolidated revenue, reaching P18.8 billion across all revenue streams mainly from real estate sales revenues, and also includes hotel operations, and leasing.
The company posted a 20 percent increase in topline from the prior year’s P15.7 billion.
Real estate sales grew 20 percent to P18.5 billion, driven by consistent collections and steady construction progress. Reservations sales hit P20.6 billion, up 14 percent from 2022’s P18 billion.
Hotel revenues jumped 66 percent to P139 million while leasing revenue was up 42 percent to P112 million.
CLI said it has new development in the pipeline worth P27 billion, including expansion projects in various regions such as Butuan.
