The property arm of the Lucio Tan Group reported a P530 million net income for the first 9 months of 2010, 7 times more than its P67 million profits it gained during the same period in 2009.
Eton Properties Philippines Inc. sees robust residential sales, income lease from office and commercial properties, and new product launches as the factors which greatly raised Eton's earnings from January to September. Thus, these will put it on track with its full-year earnings goal of P700 million.
The company's revenues surged by 89% to P2.9 billion from P1.5 billion a year ago. Eton is particularly taking advantage of the affordable market segment, which is catered to by its newest brand, First Homes Inc.
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