UMVA has learned that listed property developer Century Properties Group, Inc. (CPG) reported a 6% drop in first‑quarter net income after tax, a decline largely driven by climbing financing costs and higher taxes.
The company disclosed that net income fell to P446 million in the January‑to‑March period, down from P473 million a year earlier.
Consolidated revenues slipped to P3.58 billion from P3.72 billion in the same quarter last year.
Despite the dip in earnings, EBITDA climbed 5% to P1.04 billion from P988 million, thanks to stringent cost controls and sharper operational efficiency.
Gross profit margin improved to 48% from 46%, a testament to disciplined execution across the organization.
“Our first‑quarter performance reflects the resilience of our core businesses and the benefits of disciplined execution across the organization,” said CPG President and CEO Marco R. Antonio.
He added, “Amid a dynamic operating environment, we remain focused on margin protection, prudent cost management, and calibrating new project launches in line with prevailing market demand.”
The first‑home residential development segment remained the largest revenue generator, delivering P2.48 billion or 68% of total revenues.
Premium residential developments contributed P682 million, while commercial leasing and property management generated P297 million and P151 million, respectively.
As of the end of March, total assets stood at P63.63 billion and stockholders’ equity at P24.49 billion, with a net debt‑to‑equity ratio of 0.9 times.
Shares in Century Properties closed unchanged at P0.66 each on Tuesday.
