Posted on
April 15, 2013 10:12:28 PM [ BusinessWorld Online ]
ANCHOR LAND
Holdings, Inc. saw profit last year top P1 billion on the back of strong sales
of its residential projects, the company said in a statement attached to a
disclosure yesterday.
It plans to spend about P5 billion on new
property projects this year.
The company
reported a net income of P1.03 billion last year, up 22% from P841.7 million in
2011. Revenues grew by 37% to a record P4.14 billion from P3.02 billion,
“mainly on the back of robust real estate sales from ongoing projects,” Anchor
Land said.
Bulk of
Anchor Land’s revenues were derived from the sale of ongoing projects, namely:
Anchor Skysuites, Admiral Baysuites, and Wharton Parksuites in Binondo, Manila;
SoleMare Parksuites Phase 2 in ASEANA Business Park, Parañaque City; and
Clairemont Hills in San Juan City; the disclosure added.
Rental
income, a growing revenue stream, grew nearly fourfold to P171.47 million from
P43.55 million due to commercial units in the company’s residential sites.
This year,
Anchor Land plans to spend P5 billion, up from last year’s P4.5 billion, “to
pursue new projects that are mostly follow-ups to its existing successful
developments…”
Its shares
were last traded on April 11 at P20.95 each. -- FJGDLF
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