AREIT, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 15, 2022 at 12:33 am EDT
Share
AREIT, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was PHP 868.68 million compared to PHP 536.28 million a year ago. Revenue was PHP 1,179.86 million compared to PHP 709.56 million a year ago. Net income was PHP 815.19 million compared to PHP 619.14 million a year ago. Basic earnings per share from continuing operations was PHP 0.54 compared to PHP 0.6 a year ago. Diluted earnings per share from continuing operations was PHP 0.54 compared to PHP 0.6 a year ago.
For the six months, sales was PHP 1,742.64 million compared to PHP 1,067.07 million a year ago. Revenue was PHP 2,364.38 million compared to PHP 1,413.61 million a year ago. Net income was PHP 1,625.45 million compared to PHP 1,314.91 million a year ago. Basic earnings per share from continuing operations was PHP 1.08 compared to PHP 1.28 a year ago. Diluted earnings per share from continuing operations was PHP 1.08 compared to PHP 1.28 a year ago.
AREIT, Inc. is a Philippines-based real estate investment trust (REIT). The Company is engaged in the business of commercial leasing of retail and office spaces. It is focused on owning and investing in commercial portfolio of office, retail, and hotel properties in the Philippines. The Company caters to retail and office tenants. Its investment properties are composed of approximately seven stand-alone buildings, three mixed-used properties, approximately nine condominium office units, and four land parcels. The Company's investment properties are located across various cities in Philippines, which include Makati City, Cebu City, Bacolod City, Quezon City, Ayala Avenue, Gil Puyat Avenue and Muntinlupa City.
AREIT, INC. 
