CPG nets P1.14B
Century Properties Group Inc. said its profit in the first nine months of the year grew 6 percent to P1.14 billion from P1.08 billion.
Revenues rose 35 percent to P8.75 billion from P6.48 billion.
“The demand for our residential projects, especially for affordable housing in key growth areas outside of Metro Manila remained strong despite rising inflation and interest rates,” said Ponciano Carreon Jr., Century Properties chief finance officer.
Carreon said PHirst Park Homes, Inc. , the company’s affordable housing segment in partnership with Japan’s Mitsubishi Corp., contributed P4.17 billion or 48 percent to total revenues. Century Properties’ vertical development segment contributed P3.27 billion in revenues or 37 percent, while its leasing segment contributed P999 million or 11 percent.
Vista Land revenues hit P22B
Vista Land & Lifescapes Inc. registered a 12 percent growth in profit in the first 9 months to P6.7 billion from P5.98 billion last year.
Revenues hit P22.1 billion with rental income at P8.2 billion while real estate revenues were at P10.7 billion. Gross profit was at P6 billion and gross margin was at 56 percent.
Reservation sales increased 10 percent to P48 billion for the period.
As of the end of the third quarter of the year, Vista Land has launched 12 projects with an estimated value of about P21.8 billion.
ABS-CBN trims losses
ABS-CBN Corp. has trimmed its losses in the first nine months of the year by 51 percent to P1.87 billion from P3.8 billion last year.
Revenues rose 12 percent P14.3 billion from P12.7 billion last year.
Of the total revenues, 30 percent came from advertising at P4.9 billion, while the rest came from content business at P9.5 billion.
ABS-CBN spent P1.4 billion for capital expenditure and program rights acquisition as of September 2022.
AllHome’s core profit at P702M
AllHome Corp. said core profit for the first nine months of the year reached P702 million out of P9.1 billion in revenues.
The home retail chain also reported increase in gross profit margins to 36.15 percent from 34.2 percent last year.
AllHome reported earnings before interest tax depreciation and amortization of P2.38 billion, up from P2.36 billion last year.
Benjamarie Therese Serrano, AllHome president, said the company is focused on implementing its operational strategies towards its 100-store milestone by 2026.
AllDay Marts sales up 3%
AllDay Marts Inc. registered core profit of P270 million in the first 9 months from P265 million a year ago.
Revenues hit P7.07 billion, a 2.8 percent uptick from last year’s P6.88 billion.
Frances Rosalie Coloma, AllDay president, said transaction counts increased 11 percent for the period.
PERC books P677M profit
PetroEnergy Resources Corp. (PERC) booked a 24 percent jump in profit in the first nine months to P677 million from last year’s P544 million.
PERC recorded a 10 percent increase in revenues to P1.92 billion from P1.74 billion last year, mainly attributed to higher global crude oil prices and offtake rates for its solar power plant.
DoubleDragon doubles core
DoubleDragon Properties Corp. registered a 120.6 percent increase in core profit in the first 9 months at P2.22 billion compared to last year’s P1 billion.
Revenues grew 23 percent to P5.66 billion from P4.6 billion.
The company closed the period with P146.68 billion in assets, up 3.5 percent while shareholders equity was at P71.58 billion, up 3.3 percent.
Vivant earnings down 24%
Vivant Corp. said its profit in the first 9 months dropped 24 percent to P943 million on revenues of P4.3 billion, up 16 percent from P3.7 billion last year.
The company said the increase in total revenues was driven by fresh contribution from power generation plants in Bantayan, Cebu as well as the improved solar rooftop business of wholly owned subsidiary COREnergy.
Vivant said sale of power grew by 34 percent to P3.1 billion from P2.3 billion in 2021.
FDC earns P4B, up 36%
Gotianun-led Filinvest Development Corp. (FDC) posted a 35.76 percent decline in profit to P3.97 billion, from P6.18 billion last year.
Revenues amounted to P46.93 billion, up 12.83 percent from P41.59 billion last year.
Banking accounted for 42 percent of FDC’s bottom line in the nine-month period, contributing a net income of P3 billion to the group. This was followed by the property business, composed of the real estate and hospitality segments, which posted a combined P2.2 billion, 31 percent of total. The power subsidiary contributed P1.7 billion or 23 percent of total, while the balance of 4 percent came from other businesses.
DM Wenceslao grows rental revenues by 9%
DM Wenceslao and Associates Inc. said profit for the first nine months of the year grew 39 percent to P1.7 billion from P1.2 billion a year ago.
The company’s rental revenues improved 9 percent to P1.6 billion, accounting for 50 percent of total revenues. Residential revenues grew 62 percent to P801 million.
“DM Wenceslao continued to deliver its growth initiatives despite a macroeconomic backdrop tainted with relatively high inflation and rising interest rates. The strategies that we’ve instituted early on proved essential in allowing us to sail through headwinds,” said Delfin Angelo Wenceslao, DM Wenceslao chief executive officer.
DM Wenceslao closed the period with a cash position of P2.4 billion. Current ratio remained at 1.7x.
Cebu Landmasters gains P2.2B
Cebu Landmasters Inc. said it grew its profit for the first nine months of the year by 34 percent to P2.2 billion from P1.64 billion last year.
Revenues went up 43 percent to P10.96 billion compared to last year’s P7.66 billion.
The realtor said revenue increased across all its market segments, with flagship economic brand Casa Mira registering P5.03 billion, up 49 percent.
For the period, Cebu Landmasters launched 11 residential projects worth P19.5 billion, which are now 93 percent sold, with CLI chairman Jose Soberano III said were sold “in a matter of days.”
Soberano said Cebu Landaster’s growth in the next few years will be supported by its continuous expansion to other VisMin cities like Butuan where its most recent acquisition brought up its total landbank to 116 hectares.
