GERI earnings up 18% in first half

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Global-Estate Resorts, Inc. (GERI) posted an 18% attributable profit growth during the first six months of 2018, driven by a surge in rental revenues due to the opening of its first full-scale mall in Laguna.

In a statement issued Tuesday, the leisure and tourism estate firm of tycoon Andrew L. Tan saw its net income attributable to equity holders of the parent climb to P794 million for the first semester, compared to the P670 million it realized in the same period a year ago.

Consolidated revenues likewise firmed up five percent to P3.3 billion for the period. — Arra B. Francia