Century Properties posts P944-M income in H1, up 91%


MANILA, Philippines - Property developer Century Properties Group, Inc. reported a P944 million in net income from its real estate projects in the first 6 months of 2012, reflecting a 91% growth from its P496 million.

In a statement on Wednesday, August 15, the listed property firm said its revenues hit P4.9 billion, a 133% increase from P2.1 billion.

Of this, Century's pre-selling of units amounted to P10.7 billion, representing a 18% annual growth. This is half of full-year P20 billion target.

International sales reached P7.1 billion, a 66% annual increase.

"Century continues to execute its business plan of developing products that are relevant for today's marketplace. We remain steadfast in our attempt to diversify our product portfolio," said Century's Chief Financial Officer Jose Carlo R. Antonio.

Source: Rappler | August 15. 2012


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