Eton Properties sees net profit doubling to P700 million this year

by Zinnia B. Dela Peña
Philippine Daily Inquirer

MANILA, Philippines - Banking on a resurgent property market, Eton Properties Philippines Inc., the real estate arm of the Lucio Tan Group of Companies, expects its net income to more than double this year to P700 million. Following strong first quarter results that saw its profit rise more than 10-fold on brisk take-up of its residential projects.

“We have reasons to be bullish in 2010. Growth will be driven by the strong results of the real estate business, boosted by the country’s successful first automated national elections,” said Danilo Ignacio, Eton’s president and chief operating officer.

UPCOMING EVENT: INVESTOR'S NIGHT

Eton Properties expects ‘boom’ to double profits

by Neil Jerome C. Morales
abs-cbnNEWS.com | May 21, 2010

MANILA, Philippines - Lucio C. Tan-led real estate firm Eton Properties Philippines, Inc. projects robust growth this year, with profits expected to rise by more than double to P700 million.

First-quarter net income of P185 million -- more than 10 times the P18-million profit in the previous year -- is an indication of the bullish property sector, the company said in a statement.

Eton sells Novaliches property to SM Prime

by Miguel R. Camus
BusinessMirror | May 1, 2010

THE Lucio Tan Group of Companies concluded its latest deal with a major property developer since the start of the year, this time with the parent company of the SM Group’s shopping malls, the SM Prime Holdings Inc.

In a statement on Thursday, listed real estate firm Eton Properties Philippines Inc. and Philippine National Bank (PNB) announced the sale of a three-hectare property in Novaliches, Quezon City to SM Prime.