Vista Land & Lifescapes Inc. said Monday net income grew 83 percent in the first half to P5.8 billion from a year ago on aggressive project launches.
Vista Land said in a disclosure to the stock exchange consolidated revenue reached P18.3 billion in the six-month period, up 8 percent year-on-year. Real estate revenue accounted for P8 billion, while rental income reached P7.9 billion.
The company also recognized a gain from the proceeds of insurance amounting to P1.8 billion. Minus one-off items, core net income amounted to P4.2 billion.
“We are pleased with our performance for the first semester of 2023 as we have sustained our growth trajectory for the year. We have been launching more projects this year compared to last year. These launches will form part of our huge project pipeline,” Vista Land chairman Manuel Villar said.
The company launched P24.3 billion worth of projects in the first half. Reservation sales amounted to P35.6 billion, or 12 percent higher than in same period last year. Jenniffer B. Austria
