Written by Tribune
Thursday, 22 November 2012 00:00 [ tribune.net.ph ]
Anchor Land Holdings Inc. announced
its consolidated revenues in the first nine months of 2012 rose to P3.03
billion.
The figure is a 42 percent increase
compared to P2.14 billion recorded in same period last year as the company
enjoyed.
The improved renenues was attributed
to strong sales and sustained construction activities in its ongoing
residential condominium projects.
In a disclosure to the Philippine
Stock Exchange, the company reported that the January-to-September period
likewise increased in net profit to P706.8 million, a 26-percent growth
compared to P560.9 million for the same nine-month period in 2011.
Earnings before interest and taxes
reached P943.67 million, up from P730.36 million year-on-year.
Anchor Land’s strong financial results
in the first nine months is driven mainly by robust sales and continuing
construction activities for its current projects, namely Wharton Parksuites,
Anchor Skysuites, SoleMare Parksuites Phase 2 and Admiral Baysuites.
In addition to its residential sales,
the company has started realizing strong recurring income from its commercial
developments.
Anchor Land’s rental income reported
an increase of 376 pecent to P123.9 million as a result of the full operations
of its One Shopping Center in Pasay City and the commercial units in its
Mandarin Square project in Binondo.
Another commercial development in
Pasay City, Two Shopping Center, also started to contribute to the increase in
revenue beginning on the second quarter of 2012.
Wharton Parksuites and Anchor Skysuites
are both located in Manila’s Chinatown while Solemare Parksuites is at the
Aseana Business Park in Parañaque.
Admiral Baysuites, which is the
redevelopment of the historic Admiral Hotel, is along Roxas Boulevard in
Manila.
Its newest project, Clairemont Hills
in San Juan City, has begun construction in the third quarter of 2012 while
another Chinatown residential condominium, the Oxford Parksuites, has been
launched as a follow up to the successful Wharton Parksuites.
Clairemont Hills is a low-density development
to rise in suburban San Juan City. This project features clusters of 23
three-store townhouses with a medium-rise condominium at the center.
ALHI chairman Stephen Lee said that
the diversification of the company’s income sources is a long-term strategy,
with recurring rental income expected to further increase its contribution to
the company’s bottom line in the coming years.
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