DMCI Homes expects higher sales and profit this year amid expectations of an economic recovery that will drive demand for medium-rise residential buildings.
DMCI Homes, the property and housing arm of the Consunji-led DMCI Holdings, Inc., has allotted P4.5 billion construction budget for the year 2010.
“We expect to sell better this year than last year,” DMCI Homes Managing Director Alfredo R. Austria told Business World at the sideline of the launching of new projects. “This year, we’ll probably sell P10.5 billion to P11 billion”
Net income is projected to rise to more than P1 billion this year form the preliminary figure of P900 million last year.
"This year, we will be spending about P500 million. By next year, [we’ll spend] about P2 billion and then another P2 billion [the following year],” Elmer G. Civil, DMCI Homes’ Director for Design and Construction, said in a separate interview
Source: DMCI Homes disclosure to the PSE, Feb 18, 2010.
Monday, February 22, 2010
Tuesday, February 9, 2010
PETRON Opens 200 New Service Stations
The country’s leading oil refining and marketing company Petron Corporation ( PSE:PCOR)said it has completed the 1st phase of its retail network expansion program. From January 2009 to January 2010, Petron has opened 200 new service stations across the country bringing its total service station count to 1,463—the largest retail network in the industry.
“We intend to pursue our network expansion program to bring Petron’s first-rate fuel products and quality services closer to Filipino motorists. This is also in line with our strategic initiative to strengthen the company’s core business and ensure our market dominance over the long-term,” Petron Chairman and CEO Ramon S. Ang said.
At the heart of the company’s expansion program is the establishment of Petron service stations in far-flung areas as the framework for volume building. The concept is based on pre-fabricated models that can start with 2-3 product pumps but easily expandable as demand increases in growth centers, real estate development sites and provincial areas. Of the 200 Petron service stations opened in the last year, 84 are located in Luzon, 48 in Visayas and 68 in Mindanao.
At present, Petron has 30% of the total oil industry service station count and this is expected to further increase in the next few years. The company has programmed the construction of more service stations over the next few years which is expected to further enhance its market leadership.
To complement this initiative, the company is already rolling out more services at its various gasoline stations to give customers more service convenience. These include bank ATMs, money transfer, bill payments, and additional food and service locators etc.
Petron posted a net income of P3.37 billion in the first nine months of 2009 continuing its strong recovery from losses suffered in 2008. This is equivalent to a 21% increase compared to the P2.78 billion income posted in 2008 over the same period
PSE Disclosure: Feb 9, 2010
“We intend to pursue our network expansion program to bring Petron’s first-rate fuel products and quality services closer to Filipino motorists. This is also in line with our strategic initiative to strengthen the company’s core business and ensure our market dominance over the long-term,” Petron Chairman and CEO Ramon S. Ang said.
At the heart of the company’s expansion program is the establishment of Petron service stations in far-flung areas as the framework for volume building. The concept is based on pre-fabricated models that can start with 2-3 product pumps but easily expandable as demand increases in growth centers, real estate development sites and provincial areas. Of the 200 Petron service stations opened in the last year, 84 are located in Luzon, 48 in Visayas and 68 in Mindanao.
At present, Petron has 30% of the total oil industry service station count and this is expected to further increase in the next few years. The company has programmed the construction of more service stations over the next few years which is expected to further enhance its market leadership.
To complement this initiative, the company is already rolling out more services at its various gasoline stations to give customers more service convenience. These include bank ATMs, money transfer, bill payments, and additional food and service locators etc.
Petron posted a net income of P3.37 billion in the first nine months of 2009 continuing its strong recovery from losses suffered in 2008. This is equivalent to a 21% increase compared to the P2.78 billion income posted in 2008 over the same period
PSE Disclosure: Feb 9, 2010
SM Prime to Invest P12B to build new malls
In a disclosure to the Philippine Stock Exchange, JEFFREY C. LIM, Executive Vice President of listed SM Prime Holdings, Inc.(PSE:SMPH), confirmed that SMPH, the country’s largest mall operator, will invest P12 billion this year to put up 11 new malls until 2011.
The Henry Sy-led firm is looking to tap the new Real Estate Investment Trust or REIT Law and secure about $300 million of funds to help finance the expansion… “[Capital expenditure] for this year will be about P12 billion. We are spending P8 billion for the Philippines and P4 billion in China,” Mr. Lim said
Source: PSE Disclosure Feb 4, 2010.
The Henry Sy-led firm is looking to tap the new Real Estate Investment Trust or REIT Law and secure about $300 million of funds to help finance the expansion… “[Capital expenditure] for this year will be about P12 billion. We are spending P8 billion for the Philippines and P4 billion in China,” Mr. Lim said
Source: PSE Disclosure Feb 4, 2010.
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