Property developer Filinvest Land Inc. reported P1.39-billion net income attributable to equity holders of the parent in the first half of 2023, up 15 percent year-on-year, driven by uptick in residential and leasing businesses.
FLI said in a disclosure to the stock exchange Tuesday first-half consolidated sales climbed 8 percent year-on-year to P9.92 billion.
“Filinvest Land continued to achieve growth in its residential and rental business segments during the first six months of the year. We are pleased that our efforts led to satisfactory results as we continued to sustain our sales and marketing activities,” FLI chief executive Tristan Las Marias said.
“We remain focused on meeting our customers’ needs as we target to further grow our business this year, with further residential launches planned in the second half,” he said.
Residential sales advanced 4 percent to P6.06 billion on accelerated construction progress and strong performance of housing projects and medium-rise condominium projects.
Reservation sales also went up by 21 percent to P11 billion. FLI launched P4.56 billion worth of residential projects in the first six months, including those in Rizal, Laguna, Davao, Pangasinan, South Cotabato and Zamboanga.