05/04/2011 [ tribune.net.ph ]
Listed high-end property developer Anchor Land Holdings Inc. (ALHI) registered a 63-percent growth in revenues to P2.66 billion from earnings of P1.63 billion a year ago, breaking through the P2-billion barrier for the first time in its corporate history.
The company said net income for the year grew by 52 percent to P566 million from its 2009 net income of P373 million while earnings per share (EPS) hit P1.63 which is significantly higher than its P1.08 EPS in 2009.
ALHI chairman Stephen Lee said he is optimistic that the company will reach the P3-billion revenue mark in the current year.
He noted that the year 2010 marked ALHI’s fourth year of consecutive income and revenue growths since its public listing in 2007 and such steady climb, set against the backdrop of a global economic crisis that still impacts the financial markets, reflects the underlying strength of the company in particular and the Philippine real estate sector in general.
ALHI posted a net income of P103 million in 2007, and more than doubled it in 2008 with P236 million and was followed by P373 million in 2009 and P566 million in 2010 for an annual average net income growth of more than 50 percent.
“As Anchor Land continues to scale new heights, it enables management to look at the world from a very unique perspective, one that allows us to set our sights farther and wider for more opportunities to expand and grow the company,” Lee said.
Danessa O. Rivera
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