8990 Holdings H1 net up 20%, on track for FY guidance

Mass housing developer 8990 Holdings Inc. said it is “very much on track” to achieve its net income and sales targets for 2014 following double-digit growth in midyear earnings driven by higher housing sales.

At the company’s annual stockholders’ meeting, 8990 Holdings president Januario Jesus Gregorio Atencio III said net income in the first half grew 20 percent to P1.8 billion from P1.5 billion in the same period last year, putting the company on track to meet the full-year net income target of P3.2 billion.