Vista Land profit down 39% in H1

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Listed Vista Land & Lifescapes Inc. saw its consolidated net income decline by 39 percent to P3.5 billion in the first half from P5.8 billion last year as the impact of the coronavirus disease 2019 pandemic weighed down on its operations. In a disclosure, the Villar-led property developer said its consolidated revenues for the first semester also fell by 22 percent year-on-year to P18.3 billion. “This pandemic has impacted our performance for the first half of the year, both on our leasing and residential businesses, and we still expect the rest of the year to be challenging,” Vista Land Chairman Manuel Villar Jr. was quoted as saying in a statement. He noted, however, that they are already seeing positive signs of recovery, particularly in their residential business, since the economy’s reopening in June.

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Article and Photo originally posted by The Manila Times last August 17, 2020 and written by Faye Almazan.

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