[ bworldonline.com ]
GOLDEN BRIA Holdings, Inc. nearly doubled its net income in the
second quarter of 2018, as the company continues to expand its presence
in the country.
In a regulatory filing, the Villar-led firm said net income climbed
to P357 million from April to June, 92% higher than the P185 million it
generated in the same period a year ago. This followed a 62% increase in
revenues to P1.44 billion.
This brought Golden Bria’s net income 87% higher to P596 million in
the first half of 2018, as revenues likewise jumped 55% to P2.6 billion.
Golden Bria — whose businesses include death care through Golden
Haven, Inc. and mass housing through Bria Homes, Inc., saw real estate
sales account for 97% of the company’s total revenues. This was due to
the 55% uptick in sales of both residential units and memorial lots for
the period.
Interment income grew 25% to P15.8 million due to the increase in the number of services rendered during the six-month period.
“Growing the nationwide presence of both Golden Haven and Bria Homes
is our focus for this year,” Golden Bria Chairman Manuel B. Villar, Jr.
was quoted as saying in a statement.
Mr. Villar noted the company expanded to more than 50 locations last
year. Bria Homes has a total of 40 residential projects across more than
550 hectares in 37 cities and municipalities. Meanwhile, Golden Haven
has 18 memorial park developments covering over 130 hectares.
Golden Bria remains bullish in its prospects for the remaining half of the year.
“The company is looking to focus mainly on the development and
aggressive expansion of current projects done in parallel with continued
efforts in active land acquisition for both Golden Haven and Bria
Homes,” Golden Bria said.
Shares in Golden Bria ended flat at P327 each at the Philippine Stock Exchange on Thursday. — Arra B. Francia
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