Filinvest Land Inc. nets P1.32 billion

GOTIANUN-led Filinvest Land Inc. saw a 6.5 percent year-on-year growth in first quarter net profit to P1.32 billion on higher earnings from its office and retail leasing portfolio.

Consolidated revenues for the first quarter amounted to P4.65 billion, flat from the level seen in the same period last year, FLI reported to the Philippine Stock Exchange on Thursday.

FLI’s rental revenues rose by 14 percent year-on-year to P678 million in the first three months as the firm booked higher revenues from office buildings.