May 16, 2013

Vista Land income soars to P1.34 B

Vista Land &  Landscapes Inc.’s  profits jumped 29%  to P1.34B while revenues climbed  21% to P4.86 B in the first quarter. For this year, the property firm targets to grow its profits and revenues by 15 to 20 percent. The company expects reservation sales to also grow 15 to 20 percent to as much as P50 B. In the first quarter alone, Vista Land’s reservation sales rose 16%  to P11.76B.

Communities Philippines accounted for 35%  of the revenues, followed by Camella (32%), Crown Asia (13%), Brittany (15%) and Vista Residences (5%). For this year, Vista Land will roll out P30  B worth of projects offering 15,000 residential units, up from P25 B and 12,000 units last year. The company is tapping the debt markets for as much as P6 B in loans to finance its P18.6-B capital spending this year.- WealthSec