Areit Inc. on Thursday said its net income in January to September rose by 35 percent to P2.43 billion from last year’s P1.79 billion, due to the contribution of the assets it acquired in 2021 and the continuing stability of its tenancy and operations.
Revenues for the period grew to P3.55 billion, a 68-percent increase from the previous year’s P2.11 billion. For the third quarter alone, the company said it had a net income growth of 69 percent to P814.21 million from the previous year’s P481.29 million. Revenues, meanwhile, also grew at the same pace to P1.19 billion from last year’s P703.35 million.
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