8990 Holdings, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018; Provides Revenue Guidance for the Year 2020
November 08, 2018 at 04:39 am
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8990 Holdings, Inc. reported consolidated unaudited earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, the company reported revenue of PHP 2,622,645,821 as compared to PHP 3,087,744,644 for the same period last year. Operating income was PHP 1,019,921,814 as compared to PHP 1,249,390,358 for the same period last year. Income before tax from continuing operations was PHP 1,022,574,423 as compared to PHP 1,256,129,207 for the same period last year. Net Income was PHP 1,018,526,953 as compared to PHP 1,244,171,029 for the same period last year. Basic and diluted earnings per share was PHP 0.15 as compared to PHP 0.22 for the same period last year. The double-digit net income growth of the company was the result of strong buyer demand for its nationwide housing developments.
For the nine months, the company reported revenue of PHP 8,629,081,786 as compared to PHP 6,129,237,383 for the same period last year. Income before tax from continuing operations was PHP 3,532,020,850 as compared to PHP 2,594,057,950 for the same period last year. Net income was PHP 3,409,155,353 as compared to PHP 2,465,114,117 for the same period last year. Basic and diluted earnings per share was PHP 0.61 as compared to PHP 0.44 for the same period last year. Operating income was PHP 3,515,823,578 as compared to PHP 2,573,612,872 for the same period last year.
For the year 2020, the company expects revenue doubling to PHP 20 billion in 2020 from 2017 revenues.
8990 Holdings, Inc. is a Philippines-based holding company and a mass housing developer. The Company's business segment includes the construction of low-cost mass housing; construction of medium-rise condominium units; construction of high-rise condominium units, and hotel operations. Under the brand name DECA Homes, its residential subdivisions are located in Cebu, Iloilo, Davao, Pampanga and Cavite. It constructs over three types of housing unit, including single-story detached, single-story attached and townhouse. The floor areas range from 35 square meters (sq. m.) to 120 sq. m. Its facilities include concrete roads and an underground drainage system. It also develops low-cost residential complexes of medium-rise buildings (MRBs) under the Urban DECA Homes brand. The floor area for an MRB unit ranges from 25 sq. m. to 36 sq. m. The Company has also ventured into high-rise condominium projects under the brand name, DECA Towers in the urban areas of Metro Manila.
8990 Holdings, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018; Provides Revenue Guidance for the Year 2020
8990 HOLDINGS, INC. 
