Corporate News

Century Properties Q1 net up 3%

Posted on May 22, 2014 07:02:53 PM | BREAKING NEWS

HIGH-END developer Century Properties Group, Inc. said net profit rose 3% in the first quarter, laggging revenue growth.

Century Properties Group holds an analysts briefing at the Pacific building Makati, Philippines. April 5, 2013 A man stands beside a scale model of Century Properties Group project Azure. -- April 2013, JL Cellona
In a statement, Century said net profit was P513.06 million against P500.56 million a year earlier, while revenue grew 10% to 2.85 billion.

Century’s projects include Essensa East Forbes and Gramercy Residences, though it also has a residential community in Carmona, Cavite.

The company’s relatively flat profit growth may signal general sluggishness in the condominium sector and subdued confidence in the purchase of big-ticket items, with high-end clients seen as likely to make cash purchases.