DoubleDragon books P469 million net income in first quarter 2022

ABS-CBN News

Posted at May 17 2022 09:32 AM

MANILA - DoubleDragon Corp on Tuesday said its consolidated net income grew 5.7 percent to P469.26 million for the first 3 months of the year.

Consolidated revenues, meanwhile, rose 13 percent to P1.71 billion for the period, DoubleDragon said in a disclosure to the stock exchange.

The company has already surpassed 1.2 million square meters of GFA (gross floor area) of completed recurring income portfolio, breaching its target, DoubleDragon Chairman Edgar "Injap" Sia II said.

"These string of prime hard assets should mature and generate recurring revenues at different times, but we expect all of them to reach optimal recurring revenue generation before 2025 and to endlessly contribute sizeable recurring revenue cashflow to DoubleDragon," he said.

Hotel101, Jinjiang Inn, CentralHub and CityMall are part of the DoubleDragon portfolio.

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