Century Properties Group Inc. posted a breakout year in 2012 on back of record sales performance of its master-planned community developments in Metro Manila and the successful implementation of an initial three-year growth plan from 2010 to 2012 that catapulted the Century brand into becoming a formidable player in the property industry.
In a briefing with analysts and business reporters last April 5, Century Properties chief financial officer Jose Carlo Antonio said the sustained year on year upward trajectory of pre-sales, revenues and net income, as well as its ability to secure financing from both the equity and credit markets, have successfully laid the foundation for Century’s second stage of growth.
“The years 2010 to 2012 were a transformative three years for us. On top of Century’s financial growth, we also achieved other key milestones. Quite notably, we established an industry-leading international sales platform and created a balanced portfolio of developments for the luxury, middle-income and affordable segments. We introduced unprecedented development collaborations with global brands, listed the company in the Philippine Stock Exchange, successfully raised equity capital thrice since 2011 raising a total of P5.6 billion, expanded our relationships with 11 financial institutions that have extended P6.6 billion of credit facilities, and progressed from developing stand-alone projects to master-planned communities. Century is now well set for the next phase of its growth,” he said.
Antonio said the second stage of growth started this year and is targeted to conclude by 2015 — Century’s 30th year in the real estate business.
Source: The Daily Tribune | April 8, 2013