Listed property developer DoubleDragon Corp. said Tuesday its first-half net income dropped 18 percent year-on-year to P805.5 million as rising costs undermined revenue gains.
It said consolidated revenue rose 16 percent to P3.94 billion for the first six months, with rental Income contributing at P1.95 billion.
Rental income rose 22 percent as traffic volume significantly improved across the company’s leasing portfolio.
DoubleDragon, which has built and completed a strong diversified portfolio of 1.29 million square meters of gross floor area, said its next goal is to increase that leasable space portfolio to 3 million square meters by 2030.
