DoubleDragon says net income up by 250.86 pct in first 9 months


Posted at Nov 16 2021 11:56 AM 



MANILA - DoubleDragon said Tuesday its core net income for the first 9 months grew 250.86 percent to P4.18 billion compared to the same period last year.


Total consolidated revenues reached P4.41 billion, DoubleDragon told the stock exchange.


Hotel revenues increased by 14.49 percent to P420.70 million for the period while real estate sales rose 124.29 percent to P718.64 million, the company said.




Total equity now stands at P64.4 billion as of September, it added.


DoubleDragon operates Hotel101, CityMall, Dragon8 Shopping Center, DDMP REIT Inc., and a joint venture with Jollibee Foods Corp CentralHub, among others.


"The whole team of DoubleDragon and MerryMart will remain determined to nurture and grow all its business units in preparing to be a major beneficiary in the next cycle of economic recovery that should follow post the COVID-19 pandemic era," Chairman Edgar "Injap" Sia II said.


The company said CentralHub is building out its P24.8 billion industrial leasing portfolio in preparation for what would be the country's first industrial REIT (real estate investment trust) initial public offering.


Its real estate investment trust offering under the name DDMP REIT listed on the main index of the Philippine Stock Exchange in March.