Sta. Lucia nine-month profit more than doubles
Sta. Lucia Land Inc. (SLI) saw its nine-month net earnings grow more than two-fold to P1.63 billion on the back of higher revenues.
Revenue surged 77% to P5.61 billion, driven by robust sales from newly launched projects as a result of aggressive marketing schemes as well as more inventories of lots and units sold to the market.
In the third quarter alone, Sta. Lucia’s net income soared toP746.7 million, nearly three times the P228.78 million recorded in the same period last year. Revenues climbed to P2.1 billion from only P1.1 billion.
SLI has earmarked P20 billion for its capital expenditures over the next three years, mostly for its residential and commercial projects.
The company is rolling out 28 new projects in Metro Manila, Bulacan, Batangas, Iloilo, Pangasinan, Rizal, Palawan, Cebu and Davao. It is set to complete the Sta. Lucia Business Center, a six-storey office and commercial building which offers more than 14,000 square meters of gross leasable area.