Filinvest Land profit up 11%

this story was taken from www.inq7money.net URL: http://money.inq7.net/topstories/view_topstories.php?yyyy=2006&mon=04&dd=20&file=9 Filinvest Land profit up 11% Posted: 1:53 AM | Apr. 20, 2006 Inquirer PROPERTY developer Filinvest Land Inc. recorded a 2005 net income of P665 million, up 11 percent from 2004, according to a preliminary information statement filed with the Securities and Exchange Commission. Filinvest Land said sales grew seven percent from projects of mid-market unit Cortebella, such as Spring Country and Serra Monte Villas in Quezon City and Fuente de Villa de Abrille in Davao. Some projects in "affordable" and "socialized" market segments, such as Brookeside Lane, Crystal Aire and Beldevere Townhomes, all in Cavite province, outside Manila, also performed well, the company said in its report to regulators. New projects launched last year also did well, said the company controlled by the Gotianun group. Filinvest Development Corp., which owns 44.7 percent of Filinvest Land, reported a 2005 net income of P725 million, up 29 percent from 2004. With INQ7.net