Golden Bria Holdings, Inc. reported a record P2.6 billion profit in 2019 after showing strong sales of housing units and memorial lots.
The Villar-led deathcare and mass housing company said in a regulatory filing Friday last year’s net income was 64% up from the P1.56 billion profit recorded in 2018.
Total revenues grew 49% to P8.64 billion, backed by a 49% jump in real estate sales to P8.45 billion. Real estate sales account for 98% of the company’s total revenues.
Income from interest on contract receivables rose 14% to P110.5 million, while income from chapel services grew 15.6% to P41.9 million and internment income rose 18.3% to P38.9 million.
On the other hand, cost and expenses increased by 42% to P5.8 billion.
Golden Bria’s assets grew 50% to P27 billion, which it attributed to business expansion and an increase in inventories and contracts receivables.
Golden Bria Chairman Manuel B. Villar Jr. said that the company has aggressively expanded projects and sales networks.
“The company is also looking at widening the Golden Bria footprint across the country,” he said.
The company’s housing subsidiary Bria Homes Inc. is planning new projects in inner-city pocket developments in metropolitan areas. Golden Haven Memorial Parks, Inc. on the other hand is planning three new projects.
Bria Homes is present in more than 50 locations in the country.
Shares in Golden Bria added P8 or 7.14% to close at P300 apiece at the Philippine Stock Exchange on Friday. — J.P. Ibañez
