Sta. Lucia Land gets record 2021income

LISTED property developer Sta. Lucia Land Inc. (SLI) posted a record-high net income in 2021.

In a disclosure to the exchange on Tuesday, the company reported a full-year profit of P2.84 billion, up 66 percent year on year, as its gross revenues climbed 24 percent to P8.37 billion last year.

Sta. Lucia Land said its sales growth was spread nationwide with Mindanao recording the highest at 64 percent, followed by Visayas at 41 percent and Luzon at 22 percent.

"For year 2021, SLI has continued to grow and strengthen its foundation in select provinces through continuous land banking where the company has had proven and continued success, including new pioneer areas," the company noted.

It added that land acquisitions and joint venture agreements totaled 434.42 hectares (ha) in Cavite, Laguna, Batangas, Rizal, Bulacan, Pangasinan, Cebu, Iloilo, Cotabato and Davao del Sur.

The company also expanded its commercial properties adjacent to their residential communities with over 122.68 ha nationwide.

"The company continually seeks to unlock the values of these developed properties, serve the needs of the community and maximize its recurring revenues base," SLI remarked.

Shares of SLI finished flat at P2.93 apiece on Tuesday.

Source: TheManila Times