Anchor Land Holdings, Inc.

LISTED property developer Anchor Land Holdings, Inc. beat rivals after earning hefty profits last year despite the global economic downturn that has slowed down operations of most firms.

Anchor Land more than doubled profits last year to P236 million while revenues grew by almost threefold to P1.36 billion, its financial report showed. Earnings per share went up to P0.68 from the previous year’s P0.35.

“The significant surge in revenues came from the higher number of units sold and higher project completion percentage during the year as the company continues to enjoy steady support from its niche market while tapping into new segments that are equally lucrative,” Anchor Land said.
Formed five years ago, Anchor Land caters mostly to the Chinese-Filipino community in Manila, although the property company is starting to widen its market reach.

BusinessWorld.Net