Vista Land Q3 net income climbs 12 percent

Our reservations sales grew 8 percent during the period to P61.6 billion.

The Villars remain bullish over Vista Land’s prospects, given the sustained demand for their housing products.

Integrated property developer Vista Land & Lifescapes, Inc. has announced that it posted a 12 percent growth in net income for the first nine months of 2019 to P9.1 billion from the P8.1 billion year-ago level.

In a disclosure, Manuel Paolo A. Villar, president & CEO of Vista Land expressed confidence over the company’s prospects for the rest of the year.

“Our leasing portfolio will be growing which complements our existing core and stable end-user housing business,�? he said.

For his part, Vista Land chairman Manuel Villar Jr. said the company is well-poised to achieve another record year this 2019 as “Vista Land continues to deliver solid performance both from our leasing and residential businesses.�?

“Our reservations sales grew 8 percent during the period to P61.6 billion, which is still majority Overseas Filipino and over 90 percent end-users,�? he said.

As we have said in the past two quarters, we remain bullish, given the sustained demand for our housing products as well as our success in our leasing business propelled by the steady growth in the disposable income.�?

Consolidated revenues increased by 9 percent to P34.4 billion from P31.4 billion in the comparable period a year ago. Likewise, leasing revenues for the period increased by 13 percent to P5.8 billion from P5.1 billion.

Vista Land’s total consolidated assets as of 30 September 2019 stood at P268.0 billion, compared to P238.3 billion in December of last year. Capital expenditures for the first half of the year amounted to P28.8 billion.