AboitizLand profit surges by seven-fold in first 9 months but still below pre-pandemic levels

AboitizLand’s revenues climbed 34 percent year-on-year to ₱2.9 billion in the first three quarters of 2021, well above pre-pandemic levels.

By Bilyonaryo.com

AboitizLand has bounced back from its dismal performance in 2021 but profits still below pre-pandemic level.

AboitizLand posted a 665 percent year-on-year jump in profit to ₱646 million in the first nine months. But this is still 22 percent below the P829 million profit in 2019.

AboitizLand’s revenues climbed 34 percent year-on-year to ₱2.9 billion in the first three quarters of 2021, well above pre-pandemic levels.

The company cited higher sales, especially of projects with large spot down payments, and increased construction and site development.

Aboitiz and gets the bulk of its sales from residential (73 percent) and industrial (21 percent).

It has 10 residential projects; three economic zones; and six commercial projects in operation.

The original article is published by bilyonaryo.com on November 2, 2021.

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