Revenues of Century Properties rise by 28% in Q1 2023

CENTURY Properties Group (CPG) reported that its consolidated revenues for the first quarter of 2023 grew by 28 percent to P3.3 billion from P2.6 billion in the same period of 2022.

Its net income also increased 21 percent year-on-year to P302 million. With the acceleration of domestic and global economic activities and the reopening of most businesses, CPG’s business segments have shown stability and continuous recovery.

CPG’s First-Home Market Residential Developments segment contributed P1.6 billion or 48 percent to its total revenues. This segment’s contribution remarkably increased by 33 percent year-on-year.

The company also generated a 45 percent growth in revenues from its commercial leasing segment amounting to P312 million. (PR)