Makati—(PHStocks)—Listed real estate developer Anchor Land Holdings Inc. (PSE: ALHI) reported a Php1.03 billion net income for 2012, a 22% increase from its Php841.7 million profit in the previous year and marking the first time that the company has surpassed the Php1 billion net income mark.
In a disclosure filed to the PSE, the company said revenues also posted record – setting numbers at Php4.14 billion, up 37% from its P3.02 billion earnings in 2011 mainly on the back of robust real estate sales from ongoing projects.
Anchor Land Chairman Stephen Lee said the 2012 financial results are a continuation of the company’s steady and sustained upward trajectory since its public listing in 2007, registering consistent growths in revenues and income in every quarter.
“This significant (net income) milestone, coming as it does on only our sixth year since going public, is a testament to the incredible path that Anchor Land has blazed in the local real estate industry that in the purpose has brought enormous returns to our shareholders year after year,” Lee said.
The official also cited the company’s robust 24% increase in assets that now stand at Php13.32 billion from only Php10.74 billion a year ago.
“This gives management another opportunity to pursue more innovative and market-focused real estate developments where Anchor Land has acquired considerable expertise and, in many ways, market leaders hip,” he said.
Anchor Land’s earnings per share at end-2012 stood at P1.44 from the previous year’s Php1.21, while its stock price at the end of 2012 increased by 72% compared to the yearend of 2011 price, indicating continuing strong investor interest in the company.
Lee likewise highlighted Anchor Land’s growing rental income which tripled during the year to Php171.47 million from only Php 43.55 million in 2011 as a result of the full operations of two commercial projects in Pasay City called One Shoppin g Center and Two Shopping Center, as well as other commercial units that the company has retained from other residential developments.
“This portends a bright and steady future for Anchor Land as our recurring income segment takes deeper roots and steadily increases its contribution to our bottom line,” he said. Still, Lee said bulk of Anchor Land’s 2012 revenues were generated by sales from ongoing
residential projects like the Anchor Skysuites in Manila’s Chinatown, the Admiral Baysuites along Roxas Boulevard, the 2nd phrase of SoleMare Parksuites at the ASEANA Business Park in Paranaque, the Clairemont Hills in San Juan City and the Wharton Parksuites also in Chinatown.
Lee said that for 2013, Anchor Land will further strengthen its presence in Chinatown where the company started and where it has established a solid niche and loyal customer base among affluent Filipino-Chinese businessmen.
He said Anchor Land has allotted Php5 billion in capital expenditures for 2013 to pursue new projects that are mostly follow-ups to its existing successful developments especially in areas where demand for Anchor Land projects remain strong.
These include the Php11 billion Monarch Parksuites which is a sequel to SoleMare Parksuites, only on a much bigger scale. The Monarch Parksuites will rise on a nearly two-hectare property between the SM Mall of Asia and the Pagcor Entertainment City and consists of four residential towers, two of which offer larger and multiple bedroom units.
In Chinatown, Anchor Land’s 2013 residential developments include the Oxford Parksuites, a learning-centered project like Wharton Parksuites as both condominiums are located in the vicinity of the best Chinese learning institutions in the district.
Another new residential project in Binondo is the Princeview Parksuites along Quintin Paredes Street that will offer practical units sizes and cater to young families as well as businessmen who want to live near where their businesses are.
Anchor Land will also embark on a commercial venture in Binondo called the One Soler which will offer warehousing facilities to Chinatown traders. Other projects for this year include a still unnamed luxury residential development along Roxas Boulevard as a follow-up to the Admiral Baysuites in the same vicinity, and another warehousing facility in Baclaran called One Logistics Center.