Golden MV Holdings Inc., a listed real estate developer and deathcare service provider, said Friday first-quarter net profit rose 10 percent year-on-year to P473 million on the back of higher property sales and gains from interment services.
The home-to-heaven business of Golden MV drove total revenue to P1.62 billion in the three months ended March, up 4.4 percent in the previous year. The combined sale of residential units and memorial lots increased 4.6 percent to a total P1.55 billion. Revenue from interment services, meantime, rose 6 percent to P17.5 million due to an increase in services rendered.
Cost and expenses in the first quarter was down by 1 percent to P1.02 billion due to a decrease in the cost of sales and services.
The deathcare business of Golden MV operates under the brand “Golden Haven” and has 35 developments across the country. Its residential developments are under Bria Homes Inc, whose 51 projects are spread in 40 locatins nationwide. It recently formed VTech, a company envisaged to hold Golden MV’s investments in technology-related businesses.
