MREIT, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 13, 2022 at 07:56 pm EST
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MREIT, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was PHP 712.81 million compared to PHP 583.72 million a year ago. Revenue was PHP 917.03 million compared to PHP 711.2 million a year ago. Net income was PHP 629.37 million compared to PHP 469.42 million a year ago. Basic earnings per share from continuing operations was PHP 0.25 compared to PHP 0.19 a year ago. Diluted earnings per share from continuing operations was PHP 0.25 compared to PHP 0.19 a year ago.
For the nine months, sales was PHP 2,182.17 million compared to PHP 603.22 million a year ago. Revenue was PHP 2,711.46 million compared to PHP 938.4 million a year ago. Net income was PHP 1,993.32 million compared to PHP 794.92 million a year ago. Basic earnings per share from continuing operations was PHP 0.79 compared to PHP 0.32 a year ago. Diluted earnings per share from continuing operations was PHP 0.79 compared to PHP 0.32 a year ago.
MREIT, Inc. is a Philippines-based company, which operates as a real estate investment trust (REIT). The Company seeks to secure income growth and provide a competitive investment return to the investors through present and future portfolio. Its objectives are primarily to own and invest in income-producing commercial portfolio of office, retail, and hotel properties in the Philippines. The Companyâs investment properties include several buildings for mixed-use, which are being leased out as office, retail, and hotel, including the hotelâs parking spaces. The Company's properties include Eastwood City, Iloilo Business Park, and McKinley Hill. Iloilo Business Park is an integrated urban township in a 72-hectare property in the bustling district of Mandurriao, Iloilo City. McKinley Hill is an integrated urban township on 50 hectares of land inside Fort Bonifacio, a former military camp in Taguig City.
MREIT, INC. 
