April 15, 2013

Anchor Land net income surpasses P1 B

Anchor Land Holdings, Inc. reported a P1.03 B net income for 2012, a 22% increase from its P841.7 M profit in the previous year, marking the first time that the company has surpassed the P1-billion net income mark. Revenues also posted record-setting numbers at P4.14 B, up 37% from its P3.02 B earnings in 2011 mainly on the back of robust real estate sales from ongoing projects.

Ongoing residential projects are the Anchor Skysuites in Manila’s Chinatown, the Admiral Baysuites along Roxas Boulevard, the 2nd phrase of SoleMare Parksuites at the ASEANA Business Park in Paranaque, the Clairemont Hills in San Juan City and the Wharton Parksuites also in Chinatown.

Stephen Lee, Anchor Land chairman, said in yesterday’s disclosure, "This significant (net income) milestone, coming as it does on only our sixth year since going public, is a testament to the incredible path that Anchor Land has blazed in the local real estate industry that, in the process, has brought enormous returns to our shareholders year after year.