Driven mainly by lower real estate sales, the significant drop in residential unit sales caused real estate revenue to fall to P3 billion, while interest income on contract receivables also declined by 33 percent due to fewer in-house financed sales.
Golden MV Holdings Inc. (formerly Golden Bria Holdings and Golden Haven Memorial Park) is focused on developing and selling memorial lots, chapels, and real estate properties.
It owns Bria Homes, a residential property developer, and Golden Haven Memorial Park, which manages memorial parks.
The firm, which trades under the stock symbol HVN, is also notable for its substantial market valuation of P1.42 trillion, although analysts highlighted a significant gap between market price and earnings.
Pet cremation provides revenue lift
On the other hand, interment income grew 23 percent, thanks to more services rendered.
Income from chapel services jumped 47 percent, boosted by new offerings like pet cremation and more memorial services.
Despite the revenue dip, cost control efforts led to a 27-percent decrease in expenses, with lower costs in sales and other operations.
Villar City expansion
Villar recently sold nearly 400 hectares of land in Cavite, valued at about P5.2 billion, to Golden MV Holdings.
The land, part of the Villar family’s 3,500-hectare estate spanning Metro Manila and Cavite, will support major developments in Villar City, the group’s ambitious new project.
