AREIT, Inc. reported earnings results for the second quarter and six months ended June 30, 2024. For the second quarter, the company reported sales was PHP 1,590.38 million compared to PHP 1,140.34 million a year ago. Revenue was PHP 2,122.04 million compared to PHP 1,494.03 million a year ago. Net income was PHP 1,417.98 million compared to PHP 1,027.63 million a year ago. Basic earnings per share from continuing operations was PHP 0.6 compared to PHP 0.58 a year ago. Diluted earnings per share from continuing operations was PHP 0.6 compared to PHP 0.58 a year ago.
For the six months, sales was PHP 3,142.86 million compared to PHP 2,276.48 million a year ago. Revenue was PHP 4,233.58 million compared to PHP 2,970.12 million a year ago. Net income was PHP 2,861.29 million compared to PHP 2,037.96 million a year ago. Basic earnings per share from continuing operations was PHP 1.21 compared to PHP 1.16 a year ago. Diluted earnings per share from continuing operations was PHP 1.21 compared to PHP 1.16 a year ago.
AREIT, Inc. is a Philippines-based real estate investment trust (REIT), formed primarily to own and invest in an income-generating commercial portfolio of office, retail, hotel, and industrial land properties in the country that meet its investment criteria. When the opportunity arises, it may explore other types of real estate properties available in the market. The Company offers an investment opportunity with a yield, distributing at least 90% of its distributable income from properties with tenant demand in its portfolio. The Company’s investment properties are composed of approximately 18 stand-alone buildings, six mixed-use properties, six condominium office units, and 285.73 hectares of land. Its stand-alone buildings include Solaris One, McKinley Exchange, Teleperformance Cebu, ACC Tower, Evotech One and Two, and Ayala Northpoint Technohub. Its mixed-use properties include Ayala North Exchange, Vertis North Commercial Development, Glorietta 1&2 and One Ayala Development.
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ESG MSCI
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