CLI cites improving business climate in Cebu

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CEBU Landmasters Inc. (CLI) has noted the improving business climate in Cebu, as economic activity continues to pick up. In a stock exchange disclosure Friday, the developer disclosed its exceptional third quarter 2021 performance highlighted by a net income of P1.854 billion in the first nine months of 2021, which has effectively surpassed its full-year 2020 figure of P1.845 billion. The property developer reported that the improving economic conditions here have reflected a good performance in the company, a sign of business recovery amid the pandemic. Robust sales and rapid construction progress, due to sites operating fully at 100 percent, raised consolidated revenues year-on-year by 34 percent from P5.7 billion to P7.7 billion. Meanwhile, nine-month net income grew strongly by 23 percent year-on year to P1.854 billion from 2020’s P1.5 billion. / PR

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