Century Properties profit falls on higher costs

LISTED property developer Century Properties Group, Inc. (CPG) posted a 6% decline in first-quarter (Q1) net income after tax, mainly due to higher financing costs and taxes.

In a statement on Tuesday, the company said net income after tax fell to P446 million in the January-to-March period from P473 million a year earlier.

Consolidated revenues also slipped to P3.58 billion from P3.72 billion in the same quarter last year.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 5% to P1.04 billion from P988 million, supported by cost controls and improved operational efficiency, according to the company.

Gross profit margin improved to 48% from 46%.

“Our first-quarter performance reflects the resilience of our core businesses and the benefits of disciplined execution across the organization,” CPG President and Chief Executive Officer Marco R. Antonio said.

“Amid a dynamic operating environment, we remain focused on margin protection, prudent cost management, and calibrating new project launches in line with prevailing market demand,” he added.

The company said its first-home residential developments segment remained its largest revenue contributor during the quarter, generating P2.48 billion or 68% of total revenues.

Premium residential developments contributed P682 million, while commercial leasing and property management generated P297 million and P151 million, respectively.

As of end-March 2026, CPG reported total assets of P63.63 billion and stockholders’ equity of P24.49 billion. Its net debt-to-equity ratio stood at 0.9 times.

Shares in Century Properties closed unchanged at P0.66 each on Tuesday. — Alexandria Grace C. Magno