Eton profit surges 203% in Jan.-Sept.
December 9, 2015
Corporate News
February 11, 2016Eton sets 5th BPO bldg. in Centris
As published in Malaya on December 9, 2015
ETON Properties Philippines, Inc. is set to construct its fifth BPO (business process outsourcing) office building in Eton Centris.
The company reported yesterday its ninemonth profit tripled to PI96.81 million from P64.85 million in the same period in 2014 driven primarily by robust leasing income from the BPO office and commercial properties.
Consolidated revenues stood at PI.88 billion, 30 percent higher than last year's PI.44 billion.
The company said increased rental income from completed BPO offices, Cyberpod Centris in Quezon City and Eton Cyberpod Corinthian in Ortigas Center, and retail properties Centris Walk and Centris Station, brought rental income for the first nine month period to P843 million, 79 percent higher than the P470 million generated in the same period in 2014.
"All four BPO office buildings in Eton Centris are fully leased to prominent outsourcing companies including Genpact, Wipro, Hewlett Packard, Expert Global Solutions, Convergys, Mondelez and Unisys Philippines. Eton Cyberpod Corinthian is likewise fully leased to Northgate Arinso and Sitel," Eton added.
The company said contributing to the higher rental income are Eton's retail properties like Eton Centris' Centris Station, a twolevel commercial center anchored by a major hypermart and Centris Walk, a strip mall featuring an international mix of restaurants and lifestyle spots; and Centris Elements, a 1,000square meter events venue.
"The outsourcing industry in the Philippines sees growth prospects which will result in increased demand for office space. Recurring income from office and retail spaces is currently the company's strongest contributor to its bottom line and we plan to expand our property portfolio with more office buildings and commercial projects to sustain our longterm growth," said Josefino Lucas, Eton Properties deputy chief operating officer.
Eton said it plans to expand Centris Walk to accommodate more retail and dining spaces and strengthen its leasing business.
The company is likewise actively marketing movein ready units in several of its completed projects namely 8 Adriatico, Belton Place, Eton Parkview Greenbelt, 68 Roces, West Wing Residences at Eton City and The Manors and West Wing Residences at North Belton Communities.
In the first quarter of 2016, the company plans to launch a mixed use development dubbed Eton WestEnd Square in Makati City which will comprise a high rise residential condominium, an office tower and a boutique mall.
