Philrealty swings to net loss in 2015

LISTED property developer Philippine Realty and Holdings Corporation (Philrealty) swung to a net loss of P156.7 million in 2015 from a net income of P109 million in the previous year as higher total expenses weighed on earnings.

In a financial report to the Philippine Stock Exchange (PSE), Philrealty noted that its property management firm, PRHC Property Managers Inc., (PPMI) registered a net loss of P0.20 million last year, reversing a net income of P2.8 million in the previous year, due to higher expenses.