Italpinas net income surges to P44.47 M in 2015

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MANILA, Philippines – Listed green developer Italpinas Development Corp. (IDC)  posted strong sales last year, boosting its income by more than double or 142 percent higher than the 2014 level.

In a disclosure to the Philippine Stock Exchange (PSE), the Filipino-Italian-led company reported a net income of P44.476 million, 142 percent higher than the P18.356 million posted in 2014.

This was achieved as sales soared 62 percent to P216.5 million in 2015, which officials said is a reflection of the success of the company’s  award winning Primavera Residences, a green building in Cagayan de Oro City.

IDC said its operating income more than doubled to P51.1 million in 2015, or 129 percent higher than 2014’s P22.3 million.

5 Benefits of Going Solar with Primavera City

Benefits of Going Solar with Primavera City

Electricity rates in the Philippines are higher than China, Indonesia, and Malaysia. Our rates are undeniably among the highest in the world.

But considering our country’s tropical location, the search for other sources of more affordable energy has become easier.

Solar Energy – a more cost-efficient, safe, renewable, absolutely free source – is available in the country.

Thus, more and more construction companies across the country are harnessing the sun’s energy by building with solar power in mind.

In Cagayan de Oro, certified green builder Italpinas Development Corp. (IDC) would be one of the first.