Stock News 2012: SMDC profits hit P2.7 billion in H1

SM Mall of Asia (Photo credit: MikeVC)
Profits of listed SM Development Corp. jumped by 38 percent to P2.7 billion in the first half of the year, a disclosure to the Philippine Stock Exchange showed Wednesday.

The developer reported an 85-percent surge in home sales  in the period or P19.8 billion in sales. The number of units sold, on the other hand, grew by 72 percent to 8,007 from the 4,655 it posted the previous year.

"SMDC’s residential condominiums are being designed and developed to cater to the Filipino’s growing need for privacy, sophistication, and greater access to retail and home-related services which offer greater convenience and time for families to live a more balanced life,” said Henry Sy Jr, SMDC vice chairman, said.

http://www.philstar.com/Article.aspx?articleId=833587&publicationSubCategoryId=200

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Stock News 2012: Vista Land's Q1 income up 22% to P1.06 billion

Villar-led homebuilder Vista Land & Lifescapes Inc. said its first quarter net income grew 22 percent this year to P1.06 billion, fueled by pent-up demand in the residential market.

In a briefing yesterday, Vista Land chief financial officer Ricardo B. Tan Jr. said sales activity remained brisk with the continued low interest rates and steady remittance inflows from Filipinos working overseas.

Revenues rose 23 percent to P4.02 billion as reservation sales surged 52 percent to P10.14 billion. Subsidiaries Camella and Communities Philippines, which develop residential communities for the low and affordable segment, accounted for a combined 67 percent of Vista Land’s total revenues.

“The company’s performance for the first quarter was slightly better than expected. We are off to a good start and are on track to achieve our full year targets for 2012, “ Tan said.

Tan earlier said the company was looking to end the year with a 20 percent growth in earnings and revenues to around P4.2 billion and P16 billion, respectively.

“The market has been pretty resilient. While competition has been intensifying from other players, we feel that we have the advantage over them. We know the market better than anyone else,” Tan said.

Manuel Paolo Villar, president and chief executive officer of Vista Land, said the company has not seen any negative effects from the problems besetting Europe as it continued to attract OFWs.

“Camella continues to dominate the housing market nationwide, and as we execute our strategy of aggressively expanding in the provinces, our position as the dominant player in housing will be solidified even further,” Villar added.

The company introduced nine major subdivision projects during the period under review worth around P5 billion, Tan said.

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Stock News 2012: FLI ramps up residential line with P14.5-B projects

Gotianun-led Filinvest Land Inc. is ramping up residential construction with plans to roll out 12,100 units valued at P14.5 billion as it sees continued strong demand for the socialized, affordable and middle-income segments of the market.

In a briefing following the company’s annual stockholders’ meeting yesterday, FLI president and chief executive officer Joseph Yap said they remain focused on strengthening their position as one of the top housing suppliers to the majority of Filipino families.

Bulk of this year’s unit launches will come from 14 projects and 19 additional phases as against 11 projects and 22 expansion phases in 2011.

Last year, the company made available a total of 6,503 fresh units worth around P12.1 billion.

With the acute homes shortage in the country, FLI is looking to build 4,500 socialized housing units valued at P1.85 billion. Each unit is priced at P400,000 and below.

Yap noted that the company’s sales reservations have grown by three-fold in the past five years from P3.8 billion to P11.4 billion. Around 91 percent of its real estate sales come from the three segments with the balance of nine percent coming from the high-end market.

FLI is expanding its base of mid-rise buildings, which Yap believes are the best housing alternative for the urban Filipino family, from 11 to 16 by 2013.

The company is also enlarging its geographical footprint to reach 43 towns and cities nationwide by 2013.

Aside from this, FLI is also beefing up its office portfolio with gross leasable area increasing to 371,000 square meters by 2016, up 108 percent from the yearend foreast of 178,000 sqm.

FLI is issuing P11 billion in fixed-rate bonds to support its expansion initiatives.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=801322

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Stock News 2011: NCH eyes local retail market

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NCH Philippines Inc., a wholly owned subsidiary of US-based NCH Corp. located in Dallas, Texas has been operating quietly in the Philippines since 1968 but hardly anyone in the Philippines knows about its existence, except for industrial clients like maintenance engineers and companies involved in maintenance services.

Yet, this widely diversified group — both in products and markets — sold in 2009 (despite the global financial crunch) a total of $943 million in the US, North America, Europe, the Philippines, Asia and Latin America while most of its competitors have slid or folded up.

Its entry into the Philippines in 1968 was in owning 40 percent and being only a division of the highly-diversified Jardine Davies group(that included International Harvester, Hapag Lloyd Shipping and others), squeezing its way to the top until it finally bought 100 percent of Jardine in 1981. Its first Filipino country manager was Tristan Villareal, followed by two Americans. Currently, another Filipino, Ernie Gutierrez is at the helm until he turns it over to Rodolfo Arellano beginning May 1, 2011. May is the start of the fiscal year of the company.

http://www.philstar.com/Article.aspx?articleId=661509&publicationSubCategoryId=78

Stock News 2011: Software firm targets global market

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Once more: Yes, the Filipino can.

In another rendition of the battle cry to push for global recognition for Filipino talents, a local software development firm is making the move in the global spotlight.

“Our dream is to create a Filipino technology company admired by the world,” said Carlen Martin Legaspi, president and CEO of Orange & Bronze Software Labs (O&B).

“We have very good software developers and great IT talents but there isn’t one Filipino IT company that we can point to that is the peer of global players,” Legaspi said.

Monchito Ibrahim, commissioner of the Commission on Information and Communications Technology (CICT), who has more than 35 years’ experience in the ICT industry, graced the launch and lauded the move, saying ICT is one area where technopreneurs can be very successful, though the market space has changed a lot and there is going to be more competition.

http://www.philstar.com/Article.aspx?articleId=661458&publicationSubCategoryId=71

Stock News 2011: Camella: At the heart of progress in Visayas

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Grounded in rich traditions, Visayas is making its mark as a hub of development.

Multinational corporations are turning to the region for expansion of operations, making it a growing economic center with Old World charm. At the heart of this progress is Camella which continues to provide affordable housing in a style befitting a modernizing region.

Long before the arrival of international investors, the region has been identified by the housing developer as a growth area and has established its presence through various developments.

Today, the developer continues its expansion as the region welcomes more businesses.

"Camella has always been a partner in making the Filipino dream a reality. But we do not merely build homes, we build communities. Our presence in the Visayas has enabled the region to offer an affordable but quality standard of living for its growing upwardly mobile residents. Investors are able to come here and set up shop because they know that their employees and their families would have a place that they could call home – one that is safe, secure and nurturing of their families’ needs," said Jerylle Luz Quismundo, president.

With the increase in the demand for affordable homes and practical investment options, Camella has opened two new communities that offer outstanding value, contemporary home design and proximity to major thoroughfares, malls, schools, hospitals and business areas.

http://www.mb.com.ph/node/303523/camella-at-heart-progre

Stock News 2010: CitisecOnline income reaches P79.2M in Q3

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MANILA, Philippines—Leading online stockbroker CitisecOnline.com Inc. grew its third-quarter consolidated net profit by 10.9 percent to P79.2 million as strong Philippine operations made up for sluggish output from its overseas unit in Hong Kong.

This brought COL’s nine-month net profit to P188.8 million, down by 5.4 percent from a year ago, weighed down by the overseas operations.

“We are very pleased with the results of our Philippine operations. Initiatives to grow the business by educating, equipping and empowering the Filipino retail investors are clearly paying off as evidenced by the significant growth in the number of our customer accounts and the size of their equity. It is even more encouraging that the bulk of our new customers are first-time investors in the stock market,” COL president Conrado Bate said.

http://business.inquirer.net/money/topstories/view/20101111-302716/CitisecOnline-income-reaches-P792M-in-Q3