DoubleDragon reports 100% profit growth

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DoubleDragon Properties Corp. saw earnings double in the first semester of 2020, making it among the few companies thriving amid the COVID-19 pandemic.

Real estate developer

DoubleDragon said net income from January to June this year hit P4.4 billion, up 100.19 percent, as revenue jumped by almost 45 percent to P8.11 billion.“DoubleDragon is grateful that its portfolio has been tested to be truly resilient during this pandemic,” company chair Edgar “Injap” Sia II said in a statement.

During the period, the builder reported rental income of P1.16 billion, up 4.61 percent, while recurring revenues hit P1.88 billion, up 2.68 percent.

 

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