Century Properties Group Inc. recorded a 20-percent growth in profit in the first half of the year to P656 million from P548 million in the same period last year.
Revenues grew 27 percent to P6.7 billion from P5.3 billion.
“The revenue growth was driven by the strong contribution of Century Properties’ First-Home Residential Brand (PHirst) amounting to P3.5 billion or 52 percent of Century Properties’ consolidated revenues, an expansion from its 48 percent share amounting to P2.6 billion in 2022,” the company said.
“The remainder of the revenues came from in-city vertical developments, commercial leasing and property management segments which contributed P2.4 billion, P670 million and P217 million, respectively,” it added.
The company’s PHirst brand was expanded last year widening its price points to P580,000 to P8 million per unit.
“PHirst continues to grow its core affordable product line (P1.5 to 3.5 million). In the first quarter of 2023, PHirst unveiled its maiden development in the province of Nueva Ecija via PHirst Park Homes Gapan. This was followed in the second quarter by the opening of PHirst Impressions Batulao in Nasugbu, Batangas,” it said.
Century Properties said plans are in place to add two additional projects for the rest of the year, which includes PHirst’s pilot venture in the Visayas.
“Collectively, these will bring PHirst’s portfolio to 20 active projects, on its way to achieving the programmed nationwide presence,” it said.
