Empire East Land Holdings Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017; Provides Capital Expenditure Guidance for the Full Year 2017
November 08, 2017 at 02:13 am
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Empire East Land Holdings Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2017. For the quarter, the company reported revenues of PHP 1,340,055,000 compared to PHP 1,374,711,000 a year ago. Net profit attributable to parent company's shareholders was PHP 149,139,000 compared to PHP 161,707,000 a year ago.
For the nine months period, the company reported revenues of PHP 4,018,666,000 compared to PHP 4,035,704,000 a year ago. Net profit attributable to parent company's shareholders was PHP 489,712,000 or PHP 0.0334 per basic and diluted share compared to PHP 486,669,000 or PHP 0.0332 per basic and diluted share a year ago. Net cash used in operating activities was PHP 72,455,000 compared to PHP 40,543,000 a year ago. Return on assets was 1.24% compared to 1.29% a year ago. Book value per share as at September 30, 2017 was PHP 1.71.
For the year 2017, the projected capital expenditures (construction and development) of roughly PHP 5.0 billion are expected to be funded by collections, borrowings and equity financing.
Empire East Land Holdings, Inc. is engaged in the development and marketing of housing projects in the form of condominium communities, subdivision lots and house and lot packages, and commercial units to a limited extent. It operates through two segments: High Rise Projects and Horizontal Projects. High Rise Projects segment refers to condominiums and other medium-scale properties. The Horizontal Projects segment refers to house and lot packages and subdivision lots. The Company also leases out commercial and industrial properties. Its products are mid-to high-rise condominium towers within metro manila up to single-detached homes and house-and-lot packages in progressive suburban areas. Its completed projects include Laguna Bel Air, California Garden Square, The Cambridge Village, The Xavier Hills, Greenhills Garden Square, San Francisco Gardens, Little Baguio Gardens, Gilmore Heights, Governor's Place and Kingswood Makati, San Lorenzo Place, Little Baguio Terraces and The Sonoma.
Empire East Land Holdings Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017; Provides Capital Expenditure Guidance for the Full Year 2017