CLI net income falls 15% to P2.64B despite steady revenues

Cebu Landmasters Inc. (CLI) reported consolidated net income of P2.64 billion in the first nine months of 2026, down 15% year-on-year, as revenues eased 2% to P14.1 billion amid a challenging property market.

The decline in earnings was largely attributed to a higher gain from investment property sales recorded in the same period last year. Net income attributable to the parent company stood at P1.79 billion.

Despite the earnings dip, CLI maintained strong residential sales, reaching P16.2 billion during the period, supported by demand from overseas Filipino workers (OFWs) and end-users across the Visayas and Mindanao.

“The 14.1B revenues reflect a resilient performance. While several macroeconomic factors are affecting the industry, CLI’s leadership in the VisMin area gives it a position of strength. Driven by end-user demand and no oversupply conditions persisting, CLI’s residential inventory is at 94% sold-out across all projects and at a low delinquency rate of 3%,” CLI president and CEO Jose Franco Soberano said.

The company’s overall residential portfolio reached 94% sell-through as of September. Three projects launched that month recorded 56% sell-through, representing P4.4 billion in sales value.

CLI’s gross profit margin improved to 51% from 49% a year earlier, while operating expenses remained flat at P2.86 billion, reflecting continued cost discipline.

Its hotel, mall and office businesses also expanded, with combined revenues increasing 26% to P593 million. Mall and office revenues rose 35% to P228 million, while hotel revenues climbed 22% to P365 million.

CLI plans to launch four more residential developments before year-end in Cagayan de Oro, Butuan and Cebu, building on five projects launched in September and October.