Golden Bria earns 64% more in 2019

MANILA, Philippines — Villar-led Golden Bria Holdings Inc. reported a 64 percent jump in its 2019 net to P2.6 billion from P1.6 billion a year earlier, driven by revenue growth across its business segments.

In a report to the Philippine Stock Exchange, Golden Bria said total revenues increased 49 percent to P8.6 billion in 2019 from P5.8 billion in 2018.

The company attributed the growth to strong real estate sales, which grew by 50 percent to P8.5 billion from P5.7 billion due to strong sales in housing units and memorial lots. This accounted for 98 percent of total revenue.

Interment income also grew by 18 percent to P39 million due to a higher number of interment services rendered for the year, while income from chapel services increased to P42 million, driven by higher number of memorial services and cremation packages rendered for the year.

“Since the listing in 2016, the company has relied on its aggressive expansion of projects as well as its sales networks to continuously deliver record sales year-on-year,” Golden Bria chairman Manuel Villar said.

“The company is also looking at widening the Golden Bria footprint across the country,” he added.

Golden Bria reported that its mass market housing subsidiary, Bria Homes, is already expanding its portfolio as it is poised to open new project locations, most of which are inner-city pocket developments within the country’s booming metro areas.

Meanwhile, its death care service unit Golden Haven is also expanding as it targets to open three new projects.

Golden Bria reported that its assets have grown by 50 percent in 2019 to P27 billion.

“The increase has been largely attributed to the business expansion; alongside significant increase in the company’s inventories rising by P1.3 billion, and contracts receivable from sales going up by P4.5 billion,” it added.

Golden Bria has been listed in the Philippine Stock Exchange since June 2016.