Listed Century Properties Group Inc. (CPG) netted P1.15 billion in 2020, down 22.2 percent year-on-year, while its consolidated revenues declined by 24.3 percent to P10.84 billion last year. In a statement, CPG Chief Financial Officer Ponciano Carreon Jr. said the company’s full year revenues and net income were within expected levels as the pandemic slowed down its sales, collections and construction activities. “The company’s in-city vertical developments and property management businesses posted marginal contributions, as last year’s quarantine measures hampered construction and streamlined property management operations,” CPG said. CPG looks to launch new house and lot communities in Cavite, Bulacan and Quezon in the second half of the year through the PHirst Park Homes brand. Shares of CPG were unchanged at 4 centavos apiece on Monday.

Source: Manila Times May 10, 2021 16:35 UTC