- News/Press Release
- Sta. Lucia Land Inc’s 2015 Net Income Up by 23%
Sta. Lucia Land Inc’s 2015 Net Income Up by 23%
Sta. Lucia Land Inc.’s (SLI) net income increased YOY by 23% from Php 548 million to Php 676 million while gross revenues increased by 35% from PHP 2.296 billion to PHP 3.104 billion. The 16% growth of its real estate revenues contributed to this increase, from PHP 1.455 Billion in 2014 to 1.681 Billion in 2015.
Majority of the growth came from the sales of Colinas Verdes Residential Estates (San Jose Del Monte, Bulacan), Monte Carlo Tower – Sta Lucia Residenze (Cainta, Rizal), Davao Riverfront (Davao) and Splendido Taal Tower 2 (Tagaytay).
Total assets increased by 20%, from PHP 17.838 Billion to PHP 21.371 Billion. Total debt to equity ratio was up at 0.68 while bank loans to equity remain at a low of 0.44. Gross profit margin remains at 48% for both years.
Following its successful PHP 4 billion maiden retail bond offering last December 2015, the Company continues to expand in key cities and provinces as it has recently acquired 53 properties totaling 96.89 hectares in Pasig City, Laguna, Cavite, Batangas, Tagaytay and General Santos City and sealed over 10 joint venture agreements totaling 94.75 hectares in Laguna, Batangas, Rizal, Iloilo and Cebu.