8990 Holdings, Inc. Reports Revenue Results for the Third Quarter and Nine Months of 2017; Announces Production Results for the Nine Months of 2017; Provides Revenue Guidance for the Full Year of 2017
November 07, 2017 at 07:11 pm EST
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8990 Holdings, Inc. reported revenue results for the third quarter and nine months of 2017. For the quarter, the company reported revenues grew 29% year on year to PHP 3.1 billion from strong housing demand in all its housing projects across the country. Revenues lifted net income to PHP 1.2 billion, up 9% year-on-year. Net income margins remained stable at 40%.
For the nine months, the company reported revenues to PHP 6.1 billion.
For the nine months, the company announced a total of 4,431 units were delivered with Luzon contributing 59% of the total followed by the Visayas regions with 30% and Mindanao with 11%.
For the full year of 2017, the company plans to meet revenue target of at least PHP 10 billion.
8990 Holdings, Inc. is a Philippines-based holding company and a mass housing developer. The Company's business segment includes the construction of low-cost mass housing; construction of medium-rise condominium units; construction of high-rise condominium units, and hotel operations. Under the brand name DECA Homes, its residential subdivisions are located in Cebu, Iloilo, Davao, Pampanga and Cavite. It constructs over three types of housing unit, including single-story detached, single-story attached and townhouse. The floor areas range from 35 square meters (sq. m.) to 120 sq. m. Its facilities include concrete roads and an underground drainage system. It also develops low-cost residential complexes of medium-rise buildings (MRBs) under the Urban DECA Homes brand. The floor area for an MRB unit ranges from 25 sq. m. to 36 sq. m. The Company has also ventured into high-rise condominium projects under the brand name, DECA Towers in the urban areas of Metro Manila.
8990 Holdings, Inc. Reports Revenue Results for the Third Quarter and Nine Months of 2017; Announces Production Results for the Nine Months of 2017; Provides Revenue Guidance for the Full Year of 2017
8990 HOLDINGS, INC. 
