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Century Properties Group says consolidated revenues up 12.5% to P10.8B in 2013

Century Properties Group Inc. posted record-high consolidated revenues of P10.8 billion last year, up 12.5 percent from P9.6 billion a year earlier.

In a statement Thursday, the company said gross profit from real еstatе development rose 6 percent to P4.2 billion from P4 billion in the same comparable period

Earnings before interest, taxes, and depreciation (EBITDA) rose by 10 percent to P2.8 billion from P2.5 billion.

The company said it exceeded a pre-selling goal of P24 billion, registering P24.6 billion.

More office facilities, residential developments, and recurring income spaces will be developed in the future, creating a “solid investment portfolio” for Century Properties, said Kristina Garcia, director for Investor Relations.

The company recently initiated legal proceedings against companies of Kazuo Okada in the Philippines, for dropping its casino project in the Philippines covered by an investment contract with the Antonio-led property developer.

Source: GMA News Online | April 10, 2014


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