MANILA, Philippines — DoubleDragon Properties Corp. posted lower bottom-line numbers in the first quarter, as pandemic restrictions continued to hurt the company’s revenues. What’s newThe listed property developer of businessman Edgar “Injap” Sia II reported to the stock exchange on Tuesday a consolidated net income of P443.81 million in the first 3 months, down 40.4% year-on-year. Related Stories DoubleDragon sets 3 new hotel projects despite tourism woesBut excluding fair value gains, core net income grew 3.71% on-year last quarter. Still, shares in DoubleDragon tracked a decline in the main index and lost 0.49% to close at P12.12 each on Tuesday. DoubleDragon was not spared from the fallout after its net income fell 43% year-on-year to P6.03 billion in 2020.

Source: Philippine Star May 18, 2021 07:18 UTC