Megaworld nets P2.4B
Megaworld Corp. said profit for the first quarter of the year reached P2.36 billion, down 32.76 percent from last year’s P3.51 billion. Revenues reached P10.1 billion, down 33.02 percent from last year’s P15.08 billion.
“Gradually, we already see improvements in the numbers, which is a reflection of the recovery in most of our core businesses. With the eased restrictions and the increasing number of Filipinos getting vaccinated, we see better quarters ahead,” said Kevin L. Tan, Megaworld chief strategy officer.
Real estate sales reached P5.9 billion, down 39 percent. Reservation sales hit P20.7 billion, flat from last year’s P20.5 billion.
Rental revenues stood at P3.1 billion, down 27 percen and hotel revenues were at P335 million, down 39 percent from P551 million last year.
AllHome profit up 23%
AllHome Corp. said profit for the first quarter of the year reached P344.21 million, up 23.28 from last year’s P279.22 million. Revenues P3.59 billion, up 6.84 percent from last year’s P3.36 billion.
“The strong first quarter performance is a result of our continued innovation amidst this pandemic. Since last year, we have made a concerted effort to expand our digital footprint, in addition to our store network expansion in the provinces. AllHome’s digital expansion is one of our top business priorities for the year. Given the change in consumer trend with the ongoing community lockdowns, we believe that on-demand delivery and online shopping will continue to increase and augment in-store sales,” said Manuel Villar, Jr., AllHome chairman.
The company opened two new stores for the period, with two more stores opening in April and May. These bring the AllHome store network to 54 locations.
CPG earns P205M
Century Properties Group Inc. said profit for the first quarter of the year reached P204.59 million, down 29.52 percent from last year’s P290.29 million. Revenues were at P2.08 billion, down by 26 percent from last year’s P2.8 billion.
The company’s affordable housing business through PHirst Park Homes contributed P156 million or 76 percent of the company’s profit in the period, up 68 percent from P93 million last year.
“Our expansion to affordable housing business is delivering the results now, which was also supported by the good performance of leasing,” said Ponciano Carreon, Century Properties chief finance officer.
The company will launch four new house and lot communities in northern and southern Luzon in the second half of 2021, Carreon said.
FLI revenues down 20%
Filinvest Land Inc. (FLI) profit for the first quarter reached P736 million, down 45 percent from P1.35 billion last year. Revenues amounted to P4.54 billion, down 20 percent from last year’s P5.68 billion.
Residential revenues dropped 20 percent to P2.47 billion from P3.09 billion, leasing revenues declined 17 percent.
Residential reservation sales hit P3.44 billion, “which signal that demand for the company’s affordable and mid- income housing products remains resilient.”
“Filinvest Land plans to retain its stronghold on the affordable segment through its smart-value Futura by Filinvest brand and the mid-income segment through its lifestyle Aspire by Filinvest brand. Filinvest Land has a P30 billion pipeline of residential projects and is looking to expand to new areas across the country such as Bataan, Naga, Dagupan and General Santos,” said Josephine Gotianun-Yap, Filinvest Land president.
Converge ends Q1 strong
Converge Information and Communications Technology Solutions Inc. said profit for the first quarter of the year reached P1.5 billion, up 161.32 percent from P574 million last year.
Revenues totalled P5.5 billion, up 84 percent from P3 billion last year.
The company said it has captured 27 percent market share on fixed broadband. Residential subscriber take-up hit 1.2 million, up 92 percent from 600,000 last year.
Revenues from residential business hit P4.8 billion, up 108.69 percent from P2.3 billion last year, with the average revenue per user (ARPU) increasing by 8 percent.
Enterprise revenues meanwhile hit P749 million, up 2.2 percent from P734 million.
Converge nationwide network reached more than 7.1 million homes with 28.3 percent household coverage for the period.
