Published on Friday, 16 August 2013 00:00
Malaya
Business News Online - Philippine Business News | Online News Philippines
First-half
profit at Vista Land and Lifecape Inc. reached P2.6 billion, up 18 percent from
last year’s P2.2 billion, the company disclosed yesterday.
Consolidated
revenues reached P9.7 billion, 20 percent higher than last year’s P8.1 billion,
the company added.
Reservation
sales for the period were reported at P23.6 billion, higher by18 percent
against last year’s P20 billion, according to Manuel Paolo Villar, Vista Land
president. This year, he added, reservation sales are expected to hit P46
billion.
“Demand for
housing is expected to be robust, particularly in the affordable price segment
which is dominated by our Camella brand. There is no oversupply in housing and
our aggressive plans to expand countrywide remain unchanged,” Villar said.
The company
has launched so far a total of 19 projects with a sales value of P12.3 billion,
nearly half of the P25 billion goal for the year.
Villar said
Vista Land intends to launch new projects with focus on areas outside Metro
Manila, and under the Villar group’s Communities Philippines unit.
Communities
Philippines is a marketing arm promoting mainly Camella branded housing units
around the country.
Communities
Philippines accounted for 42 percent of the group’s first half revenues.
For the
period, Vista Land spent P8 billion of the calendared P18.6 billion capital
expenditures for the year. Vista Land said it closed the period with total
assets of P83.6 billion, 13 percent higher than last year’s P74.33 billion.
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