Sta. Lucia Land, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2017
August 21, 2017 at 08:33 pm EDT
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Sta. Lucia Land, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company reported revenue of PHP 1,023,023,924 compared to PHP 1,052,077,982 a year ago. Income before income tax was PHP 395,600,395 compared to PHP 341,679,719 a year ago. Net income was PHP 276,920,398 or PHP 0.03 per basic and diluted share compared to PHP 239,964,454 or PHP 0.03 per basic and diluted share a year ago.
For the six months, the company reported revenue of PHP 1,800,567,003 compared to PHP 1,844,146,851 a year ago. The decrease was due to significant decrease in commission income and sales mix in real estate sales. Income before income tax was PHP 682,299,531 compared to PHP 610,354,090 a year ago. Net income was PHP 477,609,854 or PHP 0.053 per basic and diluted share compared to PHP 429,412,590 or PHP 0.048 per basic and diluted share a year ago. Net cash used in operating activities was PHP 927,874,793 compared to PHP 1,130,777,760 a year ago. Disposals of additions to property and equipment were positive of PHP 18,809,561 compared to negative of PHP 4,895,375 a year ago. As at June 30, 2017, the company’s book value per share of PHP 1.55.
Sta. Lucia Land, Inc. is a Philippines-based developer of residential communities, with a portfolio consisting of developments that include residential, commercial, and retail assets. Its segments include Leasing and Residential Development. The Leasing segment consists of the investment properties, which includes properties held to earn rentals and are not occupied by the Company. The Residential Development segment is engaged in the development and selling of subdivision lots and condominium projects across the Philippines. Its residential projects include horizontal developments, which consist of residential lots for sale in gated subdivisions complete with facilities and amenities; and vertical developments, which comprises townhouse projects, condominium projects and condotel projects. Its commercial properties include malls, business centers, and commercial lots. Its townhouse projects consist of residential housing units, including independent and identical houses.