Posted on June 25, 2012 10:13:58 PM [
BusinessWorld Online ]
VILLAR-LED Vista Land &
Lifescapes, Inc., is poised to meet its P4.2-billion profit target for this
year given favorable indications in the first half, an official said yesterday.
“We’re on track to hit the targets we
were talking about,” Manuel Paolo A. Villar, the company president and chief
executive, said in briefing following ceremonies for the firm’s fifth listing
anniversary yesterday.
The company had earlier announced that
it was expecting to book P4.2 billion in profits, up 20% from last year’s P3.55
billion.
Revenues, meanwhile is targeted at
P16.1 billion, up by 20% from last year’s P13.5 billion.
The company is also eyeing to book
reservation sales of P40.2 billion, also up by 20% from last year’s P30.5
billion
The confidence comes as the company’s
biggest housing line has been performing well.
“Reservation sales for the Camella
brand has been very strong and, of course, there were expansions,” Mr. Villa
said.
The company, whose sales are mostly to
overseas Filipino workers’ families, remain insulated from the crisis in
Europe, he said.
“Fortunately, we haven’t seen results
affected significantly by the European crisis,” he said. “Sales have been very
strong, both reservation sales and real estate revenues sales.”
“We are on our way to achieve our
target of at least 20% growth in 2012 over 2011,” he added.
Already, the company grew by 22% to
P1.06 billion in the first quarter from last year’s P873 million.
The company launched nine major
subdivision projects in the first quarter, eight of which are from the low and
affordable segment, with Puerto Princesa and Candon City in the Ilocos region
as new locations.
Mr. Villar also said that the company
will be opening additional subdivisions in the second half, but declined to
specify locations.
He added that the company is not
closing its doors for public-private partnerships projects (PPP).
“The PPP projects are mostly
infrastructure. To a certain extent, we would look into those that are related
to our business,” he said.
“We have our own business model, so it
(the PPP project) has to fit in,” he said. “We will look at it very carefully,
if it is related and appropriate...” he said. -- Cliff Harvey C. Venzon
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