Tuesday 22 January 2019
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inquirer - 8 month ago

8990 nets P1B

Leading mass housing developer 8990 Holdings posted a 37-percent year-on-year growth in first quarter net profit to P1 billion on higher real estate revenues and better-than-targeted margins. Gross revenues rose by 57 percent year-on-year to P2.5 billion, posting its strongest first-quarter residential topline performance so far, driven by the increased contribution of its various projects nationwide. Net income margin of 40 percent was also slightly higher than its full-year target of 37.5 percent, th

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