Golden Haven Registers 27% Net Income Growth for 9M 2016
Las Pinas—(PHStocks)—Golden Haven Memorial Park Inc. (PSE: HVN), one of the country’s leading memorial park developers, registered 27% increase in net income to PhP135.5 million for the nine months ended September 30, 2016 compared to PhP106.4 million from the same period last year. Total revenues likewise posted 20% growth to PhP607.3 million compared to the PhP506.1 million from the same period last year.
“The continued double digit growth of the company in both our topline and bottomline numbers that we have delivered were in line with our strategic expansion plans of providing premier privately-managed memorial parks and services for Filipinos all over the country,” said Golden Haven Chairman Jerry M. Navarrete. “The funds we raised from our successful initial public offering is now being deployed to acquire more properties for expansion, to develop our existing parks as well as to construct our first stand-alone Memorial Chapel and Crematorium facility in the San Ezekiel complex in Las Piñas.”
As of September 30, 2016, the company’s total assets stood at PhP2.7 billion compared with P1.8 billion as of December 31, 2015.
Golden Haven COO Maribeth C. Tolentino stated, “As Golden Haven continues to expand, we also aim to further improve our internal operations in order to match the growing number of products we offer. Company initiatives, such as the recently concluded Goodwill Event where we ensured to keep all our park visitors comfortable, safe, and even entertained over the long Halloween weekend, continue to prove that the Company remains unwavering in its commitment to grow and innovate.”
Tolentino also noted that the company is looking forward to the seasonal growth usually experienced by deathcare companies during the October-
November period. “All Souls and All Saints Day celebrations are always highly anticipated, especially this year as we go for that final push to cap off an eventful 2016,” she added.
Golden Haven has developed over 55 hectares of land in eight locations nationwide. The company was listed in the Philippine Stock Exchange in 2016 under the stock symbol “HVN”, and is the first deathcare industry company to do so in the country.