Vista Land targets P10-B income for 2018

VISTA LAND and Lifescapes, Inc. ( VLL) targets to hit a P10billion net income in 2018, amid a solid growth performance so far in 2017 driven by the continued positive sentiment in the real estate sector.

VLL President and Chief Executive Officer Manuel Paolo A. Villar said the company is bullish on the property sector as the government’s infrastructure projects are seen pushing demand for more residential and office spaces.

“It’s the liquidity that’s in our sector that’s very good. And the anticipation of infrastructure. Clearly when you build infrastructure it drives the rest of the property up, so since we’re building infra all over the country I think it’s causing an increase,” Mr. Villar said in a press conference in Makati City on Wednesday.

VLL’s profit guidance for 2018 is 11% higher than its P9-billion profit target for this year.

In the July to September period, the company’s net income attributable to the parent climbed 6% to P2.57 billion from the P2.41 billion in the same period in 2016. This comes on the back of a 4.5% increase in revenues to P8.65 billion.

The third quarter results pushed VLL’s nine- month attributable profit to P6.95 billion, 11% higher than the P6.25 billion posted in the same period in 2016. Revenues, meanwhile, rose 11.8% to P26.86 billion during the period. —