8990 Holdings netted P3.8B in H1 2023

MANILA -Listed mass housing developer 8990 Holdings Inc. aims to sustain growth for the rest of the year after net income during the first semester climbed by a modest 2.5 percent to P3.8 billion.

The developer said it remained on track to reach its year-end revenue target of P24 billion after sales in the first semester reached P10 billion.

“As we embark on the next phase of our journey, I am confident that we will overcome any obstacles that come our way and continue to achieve greater heights,” 8990 Holdings president and CEO Anthony Vincent Sotto said in a statement.

The developer noted that gross margins slid to 48 percent from 50 percent during the period on higher costs a…

Keep on reading: 8990 Holdings netted P3.8B in H1 2023

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