Starmalls, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017; Provides Capital Expenditure Guidance for the Full Year of Fiscal 2017
May 17, 2017 at 09:04 pm EDT
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Starmalls, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported revenues of PHP 1,360 million against PHP 924 million a year ago. Operating profit was PHP 713 million against PHP 521 million a year ago. Income before tax was PHP 701 million against PHP 499 million a year ago. Net income was PHP 484 million against PHP 344 million a year ago. Basic and diluted earnings per share were PHP 0.058 against PHP 0.041 a year ago. Net cash flows provided by operating activities were PHP 125 million against PHP 381 million a year ago. Increase in investment property and equipment was PHP 698 million against PHP 1,306 million a year ago. Return on equity was 10.5% against 7.7% a year ago. Book value per share was PHP 2.21 as on March 31, 2017. EBITDA during the period grew 46% to PHP 964 million from PHP 660 million in the same period last year.
The company provided capital expenditure guidance for the full year of fiscal 2017. Capital expenditures for the 2017 are set at PHP 9.0 billion.
Vistamalls, Inc. is an investment holding company, which is engaged in investment, real estate, and leasing business. It also engaged in leasing of retail malls and business process outsourcing (BPO) commercial center. The Company's subsidiaries include Masterpiece Asia Properties Inc., which operates Starmall Prima Taguig, Starmall Prima Daang Hari, Starmall Prima Sta. Rosa, Starmall 7 San Jose del Monte, Starmall Talisay, Starmall Imus, and Optimum Bank Building, and Manuela Corporation, which operates Starmall Las Pinas, Starmall Las Pinas Annex, Starmall EDSA-Shaw and Starmall Alabang. The Companyâs subsidiaries are also involved in the acquisition of undeveloped land, the planning and design of developments, the securing of regulatory approvals for development and sale or lease, the supervision of land development and construction and the marketing and selling/leasing of its products. Its malls include Vista Mall Bataan, Vista Mall Iloilo, Vista Mall Naga, and Vista Mall Pampanga.
Starmalls, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017; Provides Capital Expenditure Guidance for the Full Year of Fiscal 2017