Century Properties Group Inc. on Monday bared first-quarter income rising 21 percent to P302.38 million from P249.43 million a year earlier as most of its business segments recover.
Revenues for the period grew 28 percent to P3.33 billion from last year’s P2.61 billion.
“The sustained good performance of our first-home market business segment reflects well the strong market appetite for quality, strategically located, and affordable homes, which serves not only every Filipino’s aspiration but also helps address the big housing backlog that our government is also prioritizing,” CPG executive chairman Jose E. B. Antonio said.
Its first-home residential development segment contributed P1.6 billion or 48 percent to total revenue. This contribution increases roughly 33 percent year-on-year.
Revenue from commercial leasing grew 45 percent amounting to P312 million.
