UPDATE: Golden Bria net income up 39% to record P2.6 B
Golden Bria Holdings, Inc., the Villar Group’s deathcare company and mass market housing developer, reported a 39 percent surge in profit to a record P2.6 billion last year from P1.6 billion in 2018.
In a disclosure to the Philippine Stock Exchange, the growth was primarily attributed by the firm to a 49 percent increase in total revenues, from P5.8 billion in 2018 to P8.6 billion in 2019.
Real estate sales, which account for 98 percent of the total revenues, increased by 50 percent, due to strong sales in housing units and memorial lots.
“Since the listing in 2016, the company has relied on its aggressive expansion of projects as well as its sales networks to continuously deliver record sales year-on-year,” said Golden Bria Chairman Manuel Villar.
He added that, “The company is also looking at widening the Golden Bria footprint across the country.”
Golden Bria’s mass market housing subsidiary, Bria Homes is already expanding its portfolio in a transition from simply being “Murang Pabahay” to becoming the Filipino’s “Home of Choice.”
This is a monicker it wishes to achieve by adding new horizontal and vertical residential concepts in higher market segments, thereby completing the spectrum and ensuring that there is an apt Bria home for the everyday Filipino’s defining moments of success.
Bria is poised to open new project locations, most of which are inner-city pocket developments within the country’s booming metro areas.
Golden Haven is following suit with its subsidiary, targeting to open three new projects.
The largest deathcare service provider in the country continues on its promise of delivering the signature “Alagang Golden” to its investors and stakeholders, through consistent upkeep of picturesque yet accessible memorial parks, and provision of the deathcare services fit for the Filipino family’s dearly departed.
Golden Bria’s assets have grown by 50 percent in 2019 to P27 billion. The increase has been largely attributed to the business expansion; alongside significant increase in the company’s inventories rising by P1.3 billion, and contracts receivable from sales going up by P4.5 billion.