Araneta Properties Inc. Announces Earnings Results for the First Quarter Ended March 31, 2019
May 16, 2019 at 12:55 am
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Araneta Properties Inc. announced earnings results for the first quarter ended March 31, 2019. For the quarter, the company reported gross revenue of PHP 15,054,255 against PHP 21,007,010 a year ago. Net loss after tax was PHP 7,959,156 against net income after tax of PHP 8,307,231 a year ago.
Araneta Properties, Inc. is a Philippines-based company. The Company is a real estate development company. The primary business of the Company is land and property development, which includes acquiring, developing, and selling properties. The Company operates in one business segment, the real estate. The Company's property portfolio includes San Jose del Monte, Bulacan Property and Manticao Misamis Oriental Property. The San Jose del Monte, Bulacan Property comprises approximately 2,364,082 square meters of prime land, which is located in Barrio Tungkong Mangga, San Jose del Monte, Bulacan. The Manticao Misamis Oriental Property consists of approximately 17.3 hectares of residential land, located along the national highway from Cagayan de Oro City to Iligan City and within the Poblacion of Barrio Patag, Manticao, Misamis Oriental.