Century Properties Group Inc. said it posted a P1.8 billion profit in the first nine months of the year, up 38.46 percent from P1.3 billion last year.
The realtor said it is on track to hit target as revenues grew 11 percent to P10.8 billion, from P9.08 billion, driven by robust sales in the company’s First-Home Residential Development (PHirst) segment, which contributed 64 percent or P6.9 billion of total revenues.
The firm said that its premium residential developments segment accounted for 24 percent or P2.6 billion, while the commercial leasing and property management segments contributed the remaining 13 percent or P1.4 billion.
Earnings before interest tax depreciation and amortization EBITDA) hit P3.4 billion, up 31 percent from P2.6 billion in 9M 2023.
“We attribute Century Properties Group’s strong performance in the first nine months of the year to our expanded geographic and product footprint, which has allowed us to effectively capture the growing demand for quality, affordable homes, as well as the evolving needs of the premium residential market. With the rapid and transformative infrastructure developments underway across the country, particularly in Luzon and the Visayas, we remain focused on expanding our presence in key cities and municipalities outside the National Capital Region (NCR). We are committed to sustaining our growth, both organically and through strategic acquisitions and consolidations, as we have consistently done in the past,” said Ponciano Carreon, Jr., Century Properties Group chief finance officer.
