Vista Land Reports P2.6-B Income

Vista Land & Lifescapes, Inc., the country’s largest homebuilder, reported a 20 percent growth in net income for the first nine months of 2011 to P2.61 billion from P2.17 billion in the same period last year — on track to another banner year.

In a press briefing, Vista Land chief financial officer Ricardo B. Tan Jr. said real estate revenues were P9.9 billion, up 21 percent from P8.21 billion in the first nine months of 2010.

The company had stated earlier this year that it was targeting about P3.4 billion in earnings and approximately P24 billion pesos in sales for the full year.

Vista Land reported that it delivered record sales of P6.2 billion for the third quarter of 2011, bringing the total for the first nine months of the year to P18.3 billion.

The company said that it was confident it would meet or even exceed its net income and sales targets for fiscal year 2011.

“We are on track for another year of solid growth in sales, revenues, and net income” said Vista Land president Manuel Paolo Villar.

via: http://www.mb.com.ph/articles/341317/vista-land-reports-p26b-income

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