LISTED Cebu Landmasters Inc. reported on Wednesday that its net income grew to P2.01 billion in 2019, barely exceeding its P2-billion profit goal for the year. Consolidated revenues climbed to P8.5 billion in 2019, up 26 percent from P6.76 billion in 2018, on the back of its expanding leasing and hotel portfolio. Reservation sales from the firm’s residential and mixed-use projects in Davao, Bacolod, Cagayan de Oro, Bohol, Cebu City and Mandaue soared by 32 percent to P12.68 billion in 2019 from P9.61 billion in 2018. For 2020, Cebu Landmasters plans to use its 1,245,485-square-meter landbank for new projects in Iloilo, Bohol, Ormoc and Palawan. Cebu Landmasters shares rose by 16 centavos or 4.22 percent to close at P3.95 apiece on Wednesday.

Source: Manila Times April 15, 2020 17:26 UTC