VILLAR-LED Golden Haven Memorial Park Inc. said its net income grew 24 percent during the first half of the year on brisk sales as the company expanded its services and branches.
The company said its income grew to P104 million for the period ending June compared to P84 million in the same period last year.
Revenues rose by 13 percent to P473.31 million, from P418.85 million last year, mainly fueled by the higher memorial lot and columbarium sales, which improved by 12 percent to P441 million.
“The overall results of the company sustained the double-digit topline and bottom-line growth registered since its listing,” the company said.
It said the company saw significant increases in its property, equipment and investment assets for new developments, as well as in its memorial chapel business.
Golden Haven said it had an 82-percent increase in investment properties to P486 million as of end-June and a 73-percent increase in its property and equipment assets for new developments to P245 million.
“Expansion to new locations is our top priority,” Golden Haven Chairman Manuel B. Villar Jr. said.
“As the company continues to solidify its foothold as one of the country’s biggest memorial-park developers, with six recent acquisitions for new locations and expansion, we aim to ensure that we also remain the most progressive in the industry, by providing top-notch services as evidenced by the successful operations of the company’s first memorial chapel and crematorium,” Villar added.
The company recently completed Golden Haven Memorial Chapel and Crematorium in the San Ezekiel complex in Las Piñas. The facility, which has 12 fully furnished memorial chapels and two new cremation units, contributed P4.4 million in its first three months of operations.
“The recurring income generated by our new chapel and crematorium opens up a wide array of opportunities for the company,” it said. The company has launched eight memorial-park developments, covering a total area of over 66 hectares all over the country.
Golden Haven was listed in the Philippine Stock Exchange in June last year.