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Golden Haven posts 24% income rise

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Golden Haven posts 24% income rise

/ 05:20 AM August 19, 2017

Villar family-led Golden Haven Memorial Park Inc. grew its net profit in the first semester by 24 percent year-on-year to P104 million on higher memorial lot and columbarium sales.

Revenues marked a 13-percent year-on-year rise to P473 million, Golden Haven said in a statement yesterday.

The company said memorial lot and columbarium sales improved by 12 percent year-on-year to P441 million in the first semester.

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Since listing on the Philippine Stock Exchange in June 2016, Golden Haven has sustained a double-digit expansion in revenues alongside the growth in profits.

In line with its strategy to provide premier privately managed memorial parks and services all over the Philippines, Golden Haven also reported significant increases in its property, equipment, and investment assets that would be used for new developments as well as its memorial chapel business.

Golden Haven booked an 82-percent year-on-year increase in investment properties to P486 million in the first semester and a 73-percent year-on-year increase in its property and equipment assets for new developments to P245 million.

“Expansion to new locations is our top priority”, said Golden Haven chair Manuel Villar Jr.

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TAGS: columbarium sales, Golden Haven Memorial Park Inc., Manuel Villar Jr., memorial lot, net profit
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