April 07, 2013

Century Properties expects P3-B profit in 2015

Century Properties Group, Inc. sees net income hitting P3 B and pre-sales to reach P30 B by 2015. By 2017, Century Properties will have 23 new buildings with more than 850,000 square meters of floor area, of which 48 percent will be completed in 2015.

The listed firm is coming from a banner year as its profits more than doubled to P1.86 B in 2012 from P866 M a year ago. The company said the luxury, middle income, and affordable housing sector accounted for 24%, 33% and 43% of pre-sales, respectively.