Filinvest Land reports leasing, property sales boosted Q1 net earnings

Filinvest Land Inc. posted P1.08 billion in net income during the first quarter of the year, up 15 percent from a year earlier, mainly helped by sales in real estate and revenues from leasing.FilinvestOffice

Revenues grew by 20 percent to P3.85 billion from P3.2 billion in the same comparable period, Filinvest Land noted in disclosure to the Philippine Stock Exchange.

Strong growth in sales of horizontal developments in the middle-income and affordable segments boosted real estate revenues by 25 percent to P3.05 billion.

Additional revenues from new office buildings, particularly related to business process outsourcing, supported rental revenues to grow by 9 percent to P540 million from P490 million.


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