Posted on November 15, 2012 10:55:34
PM [ BusinessWorld Online ]
PROPERTY DEVELOPER Vista Land &
Lifescapes, Inc. grew its net income in the third quarter, due largely to
strong sales performance of its flagship Camella Homes brand, the company said
in a disclosure yesterday.
Vista Land reported a third-quarter net income
of P1.05 billion that was 21.67% more than last year’s P863 million, as
revenues, derived from real estate and interest income, climbed 27.76% to P4.51
billion from P3.53 billion.
“Growth was still driven mostly by
Camella,” Ricardo B. Tan, Jr., Vista Land chief financial officer, said in a briefing
at the Mandarin Oriental hotel in Makati City yesterday.
The company’s third-quarter
performance brought its nine-month net income to P3.23 billion, 23.76% more
than last year’s P2.61 billion.
As of end-September, Camella Homes
cornered 34% of revenues, according to a presentation of the company’s results
yesterday.
The company’s shares lost six centavos
or 1.18% to P5.04 apiece yesterday from P5.10 last Wednesday. -- F. J. G. de la
Fuente
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