Araneta Properties, Inc. Announces Earnings Results for the Second Quarter and Six Months Ended June 30, 2018
August 14, 2018 at 08:39 pm
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Araneta Properties, Inc. announced earnings results for the second quarter and six months ended June 30, 2018. For the six months, the company reported total revenues of PHP 28,969,276.91 against PHP 58,985,887.18 a year ago. Net loss before other income was PHP 10,514,314.06 against net income before other income of PHP 9,066,852.58 a year ago. Net income before income tax was PHP 19,003,556.10 against PHP 9,123,526.39 a year ago. Net income after tax was PHP 13,302,489 against PHP 6,403,470 a year ago. Net income attributable to parent equity holder was PHP 13,302,489.27 against PHP 6,403,470.62 a year ago. Net income per share was PHP 0.00682 against PHP 0.00326 a year ago. Net cash provided by operating activities was PHP 32,043,658.93 against net cash used in operating activities of PHP 48,233,738.89 a year ago.
For the quarter, the company reported total revenues of PHP 17,807,423.95 against PHP 35,334,319.78 a year ago. Net loss before other income was PHP 1,272,188.66 against net income before other income of PHP 6,317,317.84 a year ago. Net income before income tax was PHP 8,579,095.96 against PHP 6,342,651.27 a year ago. Net income after tax was PHP 6,438,271 against PHP 4,710,701 a year ago. Net income attributable to parent equity holder was PHP 6,438,270.83 against PHP 4,710,700.92 a year ago. Net income per share was PHP 0.00330 against PHP 0.00241 a year ago. Net cash provided by operating activities was PHP 16,375,378.52 against net cash used in operating activities of PHP 8,344,034.79 a year ago.
Araneta Properties, Inc. is a Philippines-based real estate development company. The Company is engaged in the acquisition, owning, holding, developing, improving, subdividing, selling, leasing, renting, mortgaging, managing, and dealing in real estate for residential, commercial, industrial, and recreational purposes. The Company is also involved in constructing and developing any real estate or other properties, buildings, hotels, recreation facilities. The Company's property portfolio includes San Jose del Monte, Bulacan Property and ManticaoMisamis Oriental Property. The San Jose del Monte, Bulacan Property comprises approximately 2,364,082 square meters of prime land, which is located in Barrio Tungkong Mangga, San Jose del Monte, Bulacan. The ManticaoMisamis Oriental Property consists of approximately 17.3 hectares of residential land, located along the national highway from Cagayan de Oro City to Iligan City and within the Poblacion of Barrio Patag, Manticao, Misamis Oriental.