MANILA, Philippines – Higher sales pushed the net income of developer Century Properties Group Inc. higher by nearly four times in 2011.
Century Properties told the Philippine Stock Exchange that its earnings rose 382 percent from P180 million in 2010 to P866 million in 2011, as total sales expanded 53 percent to P4.7 billion.
“Century’s pre-sales data indicated that it pre-sold P18.4 billion for the full year 2011, which is a 129-percent growth over its P8.0 billion pre-sales for the full-year 2010 or a sale of 5,367 units for the full-year 2011, as compared to 2,325 units for the full year 2010.
“In 2011, approximately 67 percent (in terms of value) of Century’s pre-sales came from international markets. Century also launched 3,134 units with sales value of P16.9 billion in 2011,” the company said.
For 2012, the company’s pre-sales for the first three months amounted to P5.3 billion consisting of 812 units. The company is targeting P20-billion in pre-sales for the year.
Presently. Century Properties has four current master planned developments. The company has completed 20 condominium buildings and manages 51 properties, including the Asian Development Bank and Makati Medical Center.
Source: Philippine Star | April 16, 2012