By James A. Loyola
The Villar family’s Golden Bria Holdings, Inc. reported a record 87 percent growth in net income for the first half of 2018 to P596 million from P319 million in the same period last year.
Golden Bria owns the country’s largest integrated deathcare company Golden Haven Inc. and the fastest growing mass housing developer Bria Homes, Inc.
The firm said its strong profit growth was fueled by a 55 percent increase in total revenues, from P1.7 billion in the first half of 2017 to P2.6 billion for the first half of 2018.
Real estate sales, which accounts for 97 percent of the total revenues, increased by 55 perent due to the record numbers in real estate sales for both residential units and memorial lots.
Income from memorial chapels, which began operations in March 2017, quadrupled to P18 million from P4 million in the previous period.
For the second half of the year, the company is looking to focus mainly on the development and aggressive expansion of current projects done in parallel with continued efforts in active land acquisition for both Golden Haven and Bria Homes.
Golden Bria is looking at a capital expenditure budget of about P5.9 billion which is more than double last year’s of P2.8 billion.
“Growing the nationwide presence of both Golden Haven and Bria Homes is our focus for this year”, said Golden Bria Chairman Manuel B. Villar, Jr.
He noted that, “expanding our business to over 50 locations within the past year is an incredible feat which has allowed us to fulfill our promises to our shareholders, establish Golden Haven as the country’s largest integrated memorial park developer, and incorporate the Philippines’ fastest growing mass housing developer, Bria Homes, into the company.”
The company said it remains bullish in the specific sectors of the real estate development industry it currently operates in.
As of the first half of 2018, Golden Haven has over 130 hectares of properties all over the country allotted for its deathcare business development, while Bria Homes has over 550 hectares in 37 cities and municipalities allocated for its mass housing projects, showing the company’s confidence in achieving the strong sustained growth it is aiming for this year.
The company currently has 40 residential projects and 18 memorial park developments all over the Philippines.