8990 Holdings, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the fourth quarter of 2015, the company's net income surged 86% to PHP 887 million from PHP 477 million in the same quarter in 2014 as sales increased by 67% to PHP 2.59 billion from PHP 1.55 billion. Income before income tax was PHP 1,016 million against PHP 548 million a year ago.

The company booked a 23% growth in earnings and exceeded its full-year target of PHP 4 billion on the back of the company's strong presence, brand acceptance, building innovation and track record of housing delivery in the growth centers of the country: NCR, Angeles, Cebu, Iloilo and Davao compared to PHP 3,307 million a year ago. The company's net income reached PHP 4.05 billion last year or PHP 746 million higher compared to PHP 3.31 billion booked in 2014, as gross sales rose 24% to PHP 9.65 billion from PHP 7.79 billion amid strong sales and increased construction capacity. About 85% of total revenues came from DECA Homes subdivisions located in Cavite, Pampanga, Iloilo, Davao and General Santos, while 15% were contributed by medium-rise Urban DECA Homes projects in Cebu and Muntinlupa. Income before income tax was PHP 4,458 million against PHP 3,614 million a year ago. EPS was PHP 0.73 against PHP 0.60 a year ago. Book value per share was PHP 3.20 against PHP 2.70 a year ago. Cash uses for operations were PHP 2,644 million against PHP 2,160 million a year ago. Cash uses for capital expenditure was PHP 1,643 million against PHP 4,121 million a year ago.

For 2016, the company sees its net income growing by 20% to PHP 4.8 billion on the back of a 24% increase in revenues to PHP 12 billion.