Listed Anchor Land Holdings Inc. is eyeing double-digit growth in its full-year profit as well as P5-billion revenues, on the back of the projects it is planning to roll out this year.
Slated for this year is the firm’s project with a combined investment of P8 billion.
“Based on what we’ve seen, we’re confident that we will have a double-digit growth this year,” Anchor Land Chief Executive Officer Steve Li said in an interview with reporters.
Elizabeth Ventura, president of Anchor Land, also said during the firm’s annual stockholders meeting on Thursday that it is expecting revenues to breach P5 billion this year. This is higher compared to the P4.4-billion revenues the firm registered in 2012.
Anchor Land concluded 2012 with a P1.03-billion net income, which is the first time the listed firm saw its earnings breaching the P1-billion mark. The company also saw a 13-percent growth in its net income for the first quarter of 2013. For this year, the company is looking to get past that and targets a double-digit growth in its top-line and bottom-line figures.
To reach those targets, the company has earmarked P5 billion for its 2013 capital expenditure.
According to Neil Chua, Anchor Land chief financial officer, the P5-billion capex will be used mainly to finance the five projects it intends to launch within the year.
“This year, we will be launching five new projects,” Chua said, adding that the company will spend roughly P8 billion as the preliminary combined investment cost for all the projects.
Of the five projects, three are residential developments and two are commercial establishments. Li said that for the three residential developments, the company is eyeing P15-billion combined worth of sales value.
By the end of this year, the company will have 10 ongoing projects, he added.
As of now, the company has 2.2 hectares worth of property and Li said that will keep the company going in the next two years.
When asked if the company is looking to acquire or buy land outside Metro Manila, Li only said Anchor Land is “just studying it.”
Madelaine B. Miraflor