Golden Bria income up 64% in 2019

LISTED Golden Bria Holdings Inc. reported on Friday that its net income grew to P2.57 billion last year on the back of improved sales.

In a disclosure, the listed deathcare company and mass-market housing developer said the amount was a 64-percent increase from P1.57 billion in 2018.

It attributed this growth to the 49-percent increase in revenues to P8.6 billion from P5.8 billion a year earlier.

“Since [ its] listing in 2016, the company has relied on its aggressive expansion of projects, as well as its sales networks, to continuously deliver record sales year- on- year,” Golden Bria Chairman and former Senate president Manuel Villar Jr. said in the disclosure.

Real estate sales made up 98 percent of total revenues. These sales increased by 49 percent to P8.45 billion last year from P5.66 billion in 2018.

Golden Bria credited this surge to the strong sales of its housing units and memorial lots.

Meanwhile, Villar said his company was looking to expand its footprint nationwide.

Its mass-market housing subsidiary, Bria Homes, looks to introduce new horizontal and vertical residential concepts in higher market segments.

“Bria Homes is already expanding its portfolio [as it transitions] from simply being ‘ (affordable housing) to becoming the Filipinos’ ‘Home of Choice,’” Golden Bria said.

It also plans to open new projects for Bria, most of which are inner- city pocket developments within metropolitan areas.

Meanwhile, deathcare service provider Golden Haven targets to implement three new projects.

Golden Bria shares climbed by P8 or 2.74 percent to P300 apiece on Friday.