News Tag: Philippine Stock Exchange

Real estate sales fuel increase in Sta. Lucia Land's 2014 net income by 83 percent

Alta Vista Residential, Gold and Country Club Cebu City by Sta. Lucia Land Incorporated
Garden

MANILA, Philippines – Sta. Lucia Land Inc (SLI) earned substantially more in 2014 on the strength of its real estate sales.
In a disclosure to the Philippine Stock Exchange, SLI said it earned P548 million last year, an 83 percent increase from the P300 million in 2013. Real estate sales grew by 80 percent to P1.445 billion from P801 million over the same period.
According to SLI, bulk of the growth came from sales of the Colinas Verdes Residential Estates (San Jose del Monte, Bulacan), Monte Carlo Tower-Sta. Lucia Residence (Cainta, Rizal), Greenmeadows (Pavia, Iloilo) and Ponte Verde (Davao City).
Rental income from mall operations grew by a slower 3.4 percent to P255 million last year from P247 million in 2013. Growth came from mall expansion, the cost of which tempered the increase.
SLI has 43 projects, most of which are large-scale master-planned subdivision communities in emerging cities and provinces near Metro Manila.

Sta Lucia Land, Inc. 3rd Quarter 2014 Net Income Up By 112%

Sta Lucia Land Inc. (SLI) more than doubled its net income of P 426 Million for the 3 rd quarter of the year, 112% higher than its year-ago level of P 201 Million.

Gross revenues from real estate sales increased by 94% while accompanying cost and expenses grew by only 35%. The growth was mainly driven by robust sales in Bulacan, Davao and Iloilo and sales from over 36 other projects.

As a result, net income margin grew from 22% to just under 30%. “Our improvement in our financial performance is a reflection of our success in our strategy in providing quality residential projects outside Metro Manila which captures the broadbased economic growth of the country.”, says SLI EVP and CFO David dela Cruz. Moving forward, the Company will leverage its retail and commercial assets by building integrated communities around its already built and sold gated subdivisions, which when combined with the parent company, numbers to over 220 developments.

With this, the Company is on track to achieve its goals for the 2014. The Company also recently opened its new expansion mall called IL Centro which is located at the Sta Lucia East Grand Mall commercial complex and has a total gross floor area of 50,000 sqms.

Total combined gross leasable area of the company’s malls now add up to over 124,000 sqms.