HOMEGROWN property developer Cebu Landmasters, Inc. saw its 2017 net income grow by 66 percent to P1.29 billion, from P780 million in 2016, due to strong sales growth from core businesses. Revenues reached P3.3 billion, also up 66 percent compared to P2.36 billion last year. “We are proud of the exceptional 2017 performance of the company and are grateful for the trust given to us by our buyers and shareholders,” Cebu Landmasters Chief Executive Officer and Chairman Jose Soberano 3rd said in a disclosure on Tuesday. These are lyf Cebu City, Citadines Riverside Davao, Citadines Bacolod, Astra Hotel, in Mandaue Cebu, Astra Corporate Center Mandaue Cebu, Astra Center Mall (Mandaue Cebu), and 38 Park Office (IT Park Cebu). Cebu Landmasters, which went public just last year, expects growth to come from a P7-billion sales target.

Source: Manila Times March 20, 2018 16:52 UTC