PSE Market Summary:
The Philippine Stocks Market is down for the third straight day to close at P5,414.82. Total trade were up to 26,034 with 51 stocks advances, 117 declines and 42 unchanged.
VLL Reports Record Sales
Vista Land & Landsapes, Inc. (PSE:VLL) reported sales for the first nine months at P30.1 billion, the highest recorded amount for the company. Net income reached P3.2 billion, slightly behind the P4.2 billion full-year target. VLL stocks closed at P5.04 per share.
AT reports 13.7% Revenue Increase
Atlas Consolidated Mining & Development Corporation (PSE:AT) reported gross sales of P11.36 billion for the first nine months of 2012, up by 13.7% from P9.99 billion same period last year.The increase was driven by higher volume amidst weaker copper prices. AT stocks was unchaged at P17.50 per share.
LR Revenues Up 14%
Leisure and Resorts World Corporation (PSE:LR) announced consolidated revenues for the first nine months of 2012 at P3.345 billion, up 14% same period last year. Net income were up only by 4.5% due to higher franchise fees and taxes.
ALI to Develop Tourism Landbanks
Ayala Land Inc. (PSE:ALI) is preparing to grow and develop its landbank reserves to widen its presence mainly in beach resort segment. ALI has acquired upscale resorts in El Nido and expects to grow about 1,000 hectares more between two to three years in other parts of the country.
FGEN Reports $147M
First Gen Corporation (PSE:FGEN) reported net income attributable to parent of $147 million for the first nine months, significantly higher than the $10.1 million reported same period last months. The result was mainly driven by better results posted by affiliate Energy Development Corporation. FGEN stocks was down by P.15 to close at P22.80 for the day.