Vista Land semester profit grows by 11%
Consolidated revenue hit P19.9 billion for the period, reflecting an 8 percent increase year-on-year.
Consolidated revenue hit P19.9 billion for the period, reflecting an 8 percent increase year-on-year.
Property developer Vista Land & Lifescapes Inc. generated a net income of P6.4 billion in the first half of the year, demonstrating an 11 percent increase from last year’s gains amid successful asset optimization.
The company said on Friday that consolidated revenue hit P19.9 billion for the period, reflecting an 8 percent increase year-on-year.
Real estate revenue, on the other hand, reached P9.6 billion, while rental income amounted to P8.5 billion for the first six months.
As financial performance improves, Vista Land’s gross profit reached P6.6 billion, and Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) totaled P11.4 billion.
Notably, the company enhanced its gross margin, achieving an impressive 57 percent improvement.
“We are pleased with our performance in the first semester of 2024, as we have maintained our growth trajectory. We are committed to continuing our strategy of asset maximization and optimization through Vista Estates, which now encompasses 26 locations nationwide,” Vista Land chairman Manuel B. Villar Jr. said.
“We also aim to solidify our foothold in the horizontal residential market with several launches in areas specifically in the provinces given our wide geographic presence in the country.”
This year’s increased project launches contribute significantly to our extensive project pipeline and have positively impacted our reservation sales, which totaled P39.2 billion for the first semester — a 10 percent increase compared to the same period last year,” he added.
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