Cebu Landmasters’ 2017 profit surges 66% to P1.29 billion

Cebu Landmasters, Inc. (CLI) delivered a 66% increase in net income in 2017, allowing it to breach its profit target of P1.2 billion for the year.

The Cebu-based property developer disclosed on Tuesday, March 20, that its net income stood at P1.294 billion last year, after revenues likewise climbed by 66% to P3.929 billion.

“We are proud of the exceptional 2017 performance of the company and are grateful for the trust given to us by our buyers and shareholders. It’s our banner year and in 2018, we will continue to deliver outstanding value as we aim to become the leading local real estate developer in the VisMin region,” CLI Chairman and Chief Executive Officer Jose R. Soberano III said in a statement. — Arra B. Francia