Filinvest Land’s profit rises 40% to P799M

FILINVEST Land, Inc. (FLI) recorded a 40.3% climb in third-quarter net income to P799.42 million from P569.68 million last year after booking higher sales.

In the three months ending September, the company’s topline reached P4.85 billion, up by 13% from P4.29 billion a year ago.

Sales from real estate units amounted to P3.15 billion, 9.7% higher than P2.87 billion in the previous year. Revenue from rental services was also higher at P1.7 billion, a 19.9% increase from P1.42 billion previously.

Meanwhile, FLI’s year-to-date attributable income reached P2 billion, 37.1% lower than the P3.19-billion booked last year. Its three-quarter revenues totaled P13.66 billion, up by 9.6% from P12.47 billion a year ago.

Sales from real estate units climbed by 9.7% to P8.98 billion from P9.19 billion in the previous year. Revenue from rental services rose by 9.3% to P4.68 billion from P4.28 billion last year.

FLI, a subsidiary of Filinvest Development Corp., is engaged in the development of residential subdivisions, the construction of housing units, and leasing activities.

On the stock market on Tuesday, shares in FLI climbed by two centavos or 2.47% to 83 centavos apiece. — Justine Irish D. Tabile