Global-Estate Resorts, Inc., otherwise known as GERI, has benefited from record real estate sales. The subsidiary of Megaworld Corp. increased its net profit by a yearly 39% to P667 million in 2015, from 2014’s P479 million. Nonrecurring gains from both years are excluded from the net income listings.
Minus any other extraordinary items, GERI’s revenues hit P5.21 billion, which is an improvement from the 75% year on year from P2.98. Real estate sales doubled to an all-time high of P4.14 billion due to residential projects in Boracay and Alabang, allowing GERI to sustain their momentum of growth.
