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8990 Holdings Inc. Posted a 47.5% Jump in Gross Sales

30 Jan

BY ANGPING & ASSOCIATES SECURITIES

8990 Holdings, Inc. (HOUSE) delivered 7,324 houses in 2014, recording a gross sales growth of 47.5% to PHP 7.9 billion.

The company ended the year with a net income of PHP 3.3 billion, an increase of 52.4% from last year.

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HOUSE gains revenues from in-house financing. In 2014, the company was able to increase its in-house financing portfolio by 67.6% to PHP 13.7 billion, while also improving its collection efficiency from 93.0% to 96.0%.

CTS income was up 70.7% to PHP 908 million.

This year, the company is expecting to deliver about 11,083 units and is targeting PHP 10.0 billion in revenues. 62.0% of this year’s revenue will be generated from on-going projects while the balance will come from new launches.

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Posted by on January 30, 2015 in Corporate News, HOUSE, Stock Market

 

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