MANILA — Property developer 8990 Holdings Inc said Monday it expected net income of P5.2 billion in 2019, after it met its revenue target in the previous year.

The company said it set revenue guidance at P13.5 billion this year after posting P11.5 billion in revenues in the previous year.

Fourth quarter results are “strong,” 8990 president and CEO Willie Uy said in a disclosure to the stock exchange.

The company said Urban Deca Homes Manila in Tondo would help drive revenues this year. A 18,000 square meter mall is also being built in the area.

Shares of 8990 Holdings were up 1.55 percent compared to a 1.69-percent advance on the main index.


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