Manny Villar’s memorial park firm ekes out profit even as interment, chapel services declined

Ultra bilyonaryo Manny Villar’s Golden MV Holdings stayed profitable in the nine months through September despite a dip in revenues.

Golden MV recorded a six percent jump in its net income during the first three quarters of the year to P1.14 billion despite a five percent decline in revenues to P3.85 billion.

The lower revenue was due to the decrease in real estate sales, interest income on contract receivables, interment income, and income from chapel services.

Due to a drop in sales of memorial lots and residential units, real estate sales decreased by five percent to P3.65 billion.

Interest income on contract receivables slipped by six percent to P127.8 million as a result of lower in-house finance sales.

Interment income slipped eight percent to P48.8 million.

Chapel services income likewise fell by 19 percent to P23 million due to lower number of memorial chapel and cremation services.

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Usapang Bilyonaryo” is a digital-first, hybrid magazine show hosted and produced by veteran broadcast journalist Ces Oreña-Drilon in cooperation with the Bilyonaryo.com team. The 30-minute TV cut airs on CNN Philippines at 8 PM every Monday, starting January 16. The full version or producer’s cut of each episode, as well as interview splices, will be posted on Bilyonaryo.com’s Youtube and Facebook accounts.

 

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