VILLAR-LED Vista Land and Lifescapes Inc. saw its consolidated net income slump by 39 percent to P5.5 billion in the first nine months of the year as the coronavirus disease 2019 (Covid-19) pandemic continued to affect its operations. Despite the double-digit dips, Vista Land in a disclosure said it recorded improvement between its second and third quarter performance in terms of reservation sales amid eased Covid-19 quarantine restrictions. However, as mentioned before, we are glad to have seen encouraging signs of recovery when the economy started to reopen last June,” Vista Land Chairman Manuel Villar Jr. said in the disclosure. He added that Vista Land also recorded a sustained demand for residential products outside Metro Manila as it contributed over 80 percent of the company’s sales revenue. Shares of Vista Land inched up by 4 centavos or 1.06 percent to P3.82 each on Monday.

Source: Manila Times November 16, 2020 16:52 UTC