Thursday, March 26, 2015

Filinvest Land’s net income up by 16%

In a disclosure to the Philippine Stock Exchange, Filinvest Land Inc. (FLI) issued that their net income in 2014 rose by 16 percent, going from P3.98 billion in 2013 to P4.6 billion. Revenues, meanwhile, rose 22 percent, capping off at P16.9 billion.

The property developer attributed the numbers to robust sales in its residential and office leasing sectors. Residential sales enjoyed a 26-percent spike, going from P10.48 billion in 2013 to P13.2 billion in 2014. Office and retail spaces raked in P2.26 billion, an 11-percent uptick from 2013's P2.03 billion.

Josephin Gotianun-Yap, president and chief executive officer of the firm, issued the following statement: "The outstanding performance of FLI in 2014 was brought about by the company's ability to address the needs of homebuyers as reflected in the consistent growth of residential sales and its ability to execute its plans to increase office as well as retail spaces in key locations nationwide."

According to Gotianun-Yap, FLI is well on track of tripling its income portfolio to 970,000 square meters by 2019."We are targeting to increase our gross leasable area to three times our current office and retail space inventory within the next five years," said Gotianun-Yap."For 2015, we are adding around 67,506 square meters of office space and 85,034 square meters of retail space to our portfolio,” said the executive.

In addition, the firm is planning to launch residential projects worth P16 billion in the year ahead. 

_____

Sources:
Manila Times
GMA News 



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