D.M. Wenceslao & Associates Inc. said Wednesday net income attributable to equity holders rose 17 percent in the first six months of the year to P1.12 billion from P958 million year-on-year.
DMWAI said in a disclosure to the stock exchange consolidated revenues grew 17 percent to P1.26 billion, fueled by the strong contribution of the residential segment.
The revenues included P983.4 million or 78 percent from recurring income like rentals from land and building and others, such as common use service area fees.
By business segment, leasing of land increased three percent to P497.4 million.
Rentals of buildings and other revenues related to leasing increased 12 percent and nine percent to P392.5 million and P93.4 million, respectively.
Sale of residential condominium units rose six times to P266.7 million, while leasing of land, building, and sale of condominium units accounted for 39 percent, 31 percent and 21 percent of the company’s total revenues, respectively.
Net income margin was 90 percent from 89 percent last year.