Eton posts P199-M profit

MANILA—Eton Properties Philippines Inc., the property arm of tycoon Lucio Tan, grew its first-quarter net profit by 7.4 percent to P199 million on higher revenues booked out of sales from various residential projects.

Total revenue for the quarter amounted to P946 million versus P922 million from the previous year. The revenues originated from the higher recognition of sales due to ongoing construction of Eton Parkview Greenbelt, Eton Baypark Manila, One Archers Place’s East and West Tower, Belton Place, Eton Emerald Lofts, West Wing Residences and the first 5 clusters of The Manors of North Belton Communities, Riverbend and South Lake Village at Eton City.

/INQUIRER