“We estimate [net income for fiscal year 2015] at P11.4 billion, or a growth of 16% [year-on-year] as the fully-integrated developer sustains strong property sales and targets 15% compound annual growth rate (2013-2016) in leasing portfolio (through space expansion and rate escalation) amid an enlarged land bank (4,000 hectares),” said Luis A. Limlingan, Regina Capital’s managing director. “RCDC thinks that MEG will be able to take full advantage in the continuing slide in oil prices, and hence inflations as this bodes on both ends: sales and overhead.” MEG reported strong demand for residential lots in its Beverly Hills-themed Alabang West. Almost half of the 788 lots were sold from October to December of last year. As of end-September, the company reported a net profit of P19.039 billion, higher by 191.77% from the same period in 2013. MEG shares closed at P5.40 last Wednesday, up by 4.25% from the day before. Mr. Limlingan pegged the stock’s support and resistance levels at P4.95 and P5.50, respectively.
Posted on: Mon, 19 Jan 2015 01:37:29 +0000
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