May 16, 2013

Filinvest Land earnings jump 25% to P934M

Filinvest Land Inc.’s (FLI) net earnings jumped 25% YOY to P934 M. Specifically, real estate sales, the company’s major contributor, rose 20% to P2.44 B. Rental income, which were derived from FLI’s lease of office buildings and shopping malls, grew 14% to P467 M.

FLI said at least eight more buildings are expected to be completed by the end of the year. In the first three months, two new projects and five additional phases of existing projects with an estimated sales value of P4.1 B were launched.

FLI said it is targeting to launch P18 B worth of projects this year through 12 new projects and additional phases of existing projects. - WealthSec