Connect with us

Hi, what are you looking for?


8990 Holdings’ profit up 34% on eased mobility

8990 HOLDINGS, INC. posted 34.1% higher attributable net income to P2.65 billion in the third quarter from P1.97 billion last year on eased mobility restrictions.

For the quarter, the company’s topline reached P6.98 billion, up by 30.7% from P5.34 billion in the same period a year ago.

Real estate sales contributed P6.92 billion, 29.8% higher than P5.34 billion last year. Rental income was 68.5% lower at P1.33 million from P4.21 million a year ago.

“The outstanding results for the third quarter also significantly boosted the calendar-year results of the country’s leading affordable developer by double digits,” the company said.

For the nine-month period, the company’s attributable net income rose by 15.9% to P6.29 billion from P5.43 billion last year.

From January to September, 8990 Holdings’ topline totaled P17.03 billion, up by 10.9% from P15.31 billion in 2021.

Real estate sales contributed P16.88 billion, 10.6% higher than P15.27 billion a year ago, while rental income’s share was 97.2% lower at P2.4 billion from P84.75 billion.

8990 Holding’s vertical projects contributed 59% to revenues, while horizontal projects made up 41% of the total.

As of September, the company delivered 8,882 additional homes — 56% in Luzon, 23% in the Visayas and 22% in Mindanao.

The company said it has 704.66 hectares of land holdings with a potential sale value of P155 billion.

On Thursday, shares in 8990 Holdings climbed by 90 centavos or 9.57% P10.30 apiece. — Justine Irish D. Tabile

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



A market vendor arranges assorted vegetables inside the Quinta Market in Manila, Sept. 19. Vegetable prices continued to rise in November. — PHILIPPINE STAR/...


More policemen are deployed in Divisoria, Manila as the shopping area is expected to draw bigger crowds ahead of the holidays, Dec. 1. —...


PHILIPPINE STAR/ RUSSELL PALMA By Arjay L. Balinbin, Senior Reporter A PROPOSED MEASURE seeks to require National Economic and Development Authority (NEDA) Board approval...


BW FILE PHOTO THE MANAGEMENT ASSOCIATION of the Philippines (MAP) is seeking the creation of a public-private sector advisory council for various sectors, in...


UNSPLASH THE HOLIDAYS shouldn’t be used as an excuse to binge-eat, warned a dietitian.  Christmas is just around the corner and with it comes...


MANILA Electric Co. (Meralco) has secured a certificate of exemption from the Department of Energy (DoE) from the competitive selection process (CSP) for the...

You May Also Like


BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...


REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...


KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...


COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.