THE Villars’ Vistamalls, Inc. booked a P675-million attributable net income in the third quarter, jumping 64% from P411 million in the same period last year on the back of higher revenues.
The company’s regulatory filing on Tuesday showed its third-quarter topline rose by 43% to P1.87 billion from P1.31 billion in the same period last year. Its rental income grew 27% to P1.67 billion from P1.31 billion.
For the January-September period, Vistamalls logged a P2.32-billion attributable net income, 48% higher than the P1.57 billion recorded a year ago.
The company’s revenues amounted to P5.63 billion, up by 22% from P4.63 billion as rental income rose 16% to P4.81 billion.
“The increase was primarily attributable to the contribution of the newly opened of commercial centers which are primarily with essential tenants,” Vista Malls said.
On Tuesday, shares of Vista Malls declined by 1.26% or five centavos to close at P3.92 apiece. — Keren Concepcion G. Valmonte
Source: https://www.bworldonline.com/villar-led-vistamalls-registers-64-profit-rise-to-p675m/