Listed Century Properties Group (CPG) recorded a 24-percent drop in its first quarter net income to P290 million from P384 million in the same period last year. In a regulatory filing, the property firm said the largest part of its net income came from the combined contribution of its affordable housing business and leasing portfolio. We expect our high-margin affordable housing and leasing revenues to further grow and boost our bottom-line margins,” he added. In an earlier disclosure, CPG said its net income climbed 32.2 percent to P1.48 billion last year. Shares of Century Properties Group slid 0.005 centavos or 1.23 percent to close at 40 centavos apiece on Monday.

Source: Manila Times June 08, 2020 18:00 UTC