8990 hits 78% of FY goal

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    8990 Holdings Inc., said topline in the first nine months of the year reached P10.5 billion, up 22 percent from P8.6 billion last year.

    This brings the company’s revenues to 78 percent of its full year target of P13.5 billion.
    The company did not disclose the bottomline.

    8990 said the double-digit revenue growth was fueled “in large part by the positive buyer response to Urban Deca Homes in the City of Manila, contributing P4.2 billion or 43 percent of 8990’s total gross revenues.”

    “After less than a year from its launch, more than five buildings of the 13-tower residential complex have sold out,” it said.

    8990 reported unrealized revenues of P3.6 billion, P2.1 billion of which is expected to be recognized by the end of the year. Sales Reservation for the first nine months of 2019 rose 27 percent to 9,215 units from 7,265 units in the same period last year.