AREIT, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 14, 2023 at 01:43 am EST
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AREIT, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was PHP 1,522.79 million compared to PHP 896.57 million a year ago. Revenue was PHP 2,033.32 million compared to PHP 1,191 million a year ago. Net income was PHP 1,231.95 million compared to PHP 814.21 million a year ago. Basic earnings per share from continuing operations was PHP 0.52 compared to PHP 0.54 a year ago. Diluted earnings per share from continuing operations was PHP 0.52 compared to PHP 0.54 a year ago.
For the nine months, sales was PHP 3,799.28 million compared to PHP 2,639.21 million a year ago. Revenue was PHP 5,003.44 million compared to PHP 3,555.38 million a year ago. Net income was PHP 3,269.91 million compared to PHP 2,439.66 million a year ago. Basic earnings per share from continuing operations was PHP 1.38 compared to PHP 1.62 a year ago. Diluted earnings per share from continuing operations was PHP 1.38 compared to PHP 1.62 a year ago.
AREIT, Inc. is a Philippines-based real estate investment trust (REIT). The Company is engaged in the business of commercial leasing of retail and office spaces. It is focused on owning and investing in commercial portfolio of office, retail, and hotel properties in the Philippines. The Company caters to retail and office tenants. Its investment properties are composed of approximately seven stand-alone buildings, three mixed-used properties, approximately nine condominium office units, and four land parcels. The Company's investment properties are located across various cities in Philippines, which include Makati City, Cebu City, Bacolod City, Quezon City, Ayala Avenue, Gil Puyat Avenue and Muntinlupa City.
AREIT, INC. 
