Property developer Cebu Landmasters Inc. (CLI) expects to post P1.7 billion in net profit next year, 41.7 percent higher than the projected bottom-line this year, on robust revenues from its pipeline of residential projects.
CLI also plans to debut on the local bond market early next year, to raise fresh funds for expansion. The company has obtained approval from its board to file for up to P10 billion in bond offering for shelf registration, the first tranche of which is expected to amount to around P3 billion.
This year, CLI’s net profit is expected to exceed the P1.2 billion full-year goal on the back of P3.6 billion in projected revenues, CLI senior vice president Franco Soberano said in an investors briefing yesterday.
Read Philippine Daily Inquirer’s full story here.