SOCResources, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter Ended September 30, 2018
November 19, 2018 at 07:11 am
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SOCResources, Inc. announced unaudited consolidated earnings results for the third quarter ended September 30, 2018. For the quarter, the company reported revenues of PHP 30,321,897 compared to PHP 20,473,446 a year ago. Income before income tax was PHP 2,061,957 compared to loss of PHP 5,189,094 a year ago. Net income was PHP 2,061,957 or PHP 0.0035 per basic and diluted share compared to loss of PHP 5,806,024 or PHP 0.0098 per basic and diluted share a year ago. EBITDA was PHP 20,858,336 against loss PHP 12,170,594 a year ago.
SOCResources, Inc. is a Philippines-based holding company. The Company is primarily engaged in oil exploration. It has investments in real estate, steel fabrication, banking, telecommunications and energy exploration. The Company is engaged in various construction-related contracts for the Anala, Azalea and Althea Projects. The Company operates through two segments: real estate development and investment. The real estate development segment is engaged in the real estate business. The investment segment pertains to the activities of the Company as a holding entity. The Company has two subsidiaries, SOC Land Development Corporation (SOC Land), and SOCBluemoon, Inc. (SOCBluemoon).