DoubleDragon net income up in first half of 2023 | ABS-CBN

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DoubleDragon net income up in first half of 2023

DoubleDragon net income up in first half of 2023

ABS-CBN News

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The Double Dragon Plaza, under the Double Dragon Properties in Pasay City on May 22, 2018. Mark Demayo, ABS-CBN News/File
The Double Dragon Plaza, under the Double Dragon Properties in Pasay City on May 22, 2018. Mark Demayo, ABS-CBN News/File

MANILA -- DoubleDragon Corporation on Tuesday said its consolidated net income rose to P1.60 billion in the first 6 months of 2023, up from P1.2 billion in the same period last year.

Consolidated revenues, meanwhile, were up 15.62 percent at P3.94 billion. Rental income was also up 20.22 percent at P1.95 billion as traffic increased across DoubleDragon's leasing properties.

In a disclosure to the Philippine Stock Exchange, the company said they now have a strong diversified portfolio of 1.29 million square meters of gross floor area that bring in recurring revenue.

The firm said their next goal is to grow its portfolio targeting 3 Million square meters.

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DoubleDragon also operates community malls CityMall, hotel chains Hotel101 and warehouse complexes, among others.

DoubleDragon's first quarter consolidated net income grew over 10.83 percent to P520.09 million.

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