The growth in earnings was due to the good results across all revenue streams which pushed CLI’s consolidated revenue to rise by 23 percent to P9.15 billion, from P7.36 billion last year.
The company’s rental revenues grew 41 percent to P50 million, attributable to strategic rental increases and higher occupancy. Revenue from management fees of CLI Property Management Inc., the company’s property management arm, also went up by 26 percent to P31 million from the 28 completed projects it handled during the period.
Reservation sales came the strongest from Davao, comprising 35 percent of the total for the period. The listed company opened its first house and lot project in Davao last June, which reached close to 80 percent sales in just 3 days.