Cebu Landmasters nine-month profit rises 6% to P3.1 billion – BusinessWorld Online
CEBU LANDMASTERS, INC. (CLI) reported a consolidated net income of P3.1 billion for the first nine months, up 6% from P2.9 billion in the same period last year.
Revenues reached P14.3 billion, a 2% increase from P14.1 billion in 2024, with real estate sales contributing P12.4 billion, the company said in a press release on Thursday.
Recurring income from hotel and rental operations grew 72%, supported by new property openings and higher occupancy. Hotel revenues rose 101%, while rental income increased 49%.
Residential reservation sales climbed 27% to P19.3 billion, driven by new launches including One Manresa Place in Cagayan de Oro and Casa Mira Homes Gensan.
Total assets increased 18% to P128.7 billion, while the net debt-to-equity ratio stood at 1.63x.
The company’s landbank expanded to 188 hectares, including a 79-hectare property in Liloan, Cebu, intended for mixed-use development.
CLI currently manages 131 projects, comprising 102 residential developments and 16 income-generating properties, including hotels and offices. — Ashley Erika O. Jose