CEBU LANDMASTERS, INC. (CLI) posted a 27 percent growth in net income for the first nine months of 2018, according to a company disclosure. The listed firm reported net earnings of P1.22 billion from P959.8 million over the same period last year. Consolidated revenues for the period registered at P3.7 billion, up by 33 percent from the previous year’s P2.8 million. The company’s performance was attributed to robust sales and the construction progress of residential developments, mostly in Cebu and in Cagayan de Oro City that have squarely addressed the needs and aspirations of mid-income earners, OFWs and other segments. CLI chairman and CEO Jose Soberano III observed that two of the Cebu projects carrying the highly popular CLI economic housing brand Casa Mira, the mid-range MesaVerte Residences in Cagayan de Oro and the mixed-use development Base Line Center in Cebu City were launched prior to the company’s listing in 2017. CLI also showed improvements in its leasing income, which grew by 15 percent from P31.4 million to P36.2 million year-on-year due to higher occupancy and modest rate increases. (PR)