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News Top Stories Filinvest Land hikes capex budget for 2008 by 50%
News Top Stories Filinvest Land hikes capex budget for 2008 by 50%
| Filinvest Land hikes capex budget for 2008 by 50% |
| Monday, 10 March 2008 12:27 | ||||||
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This is 50 percent higher compared to its total capital expenditure of P4 billion in 2007, which involved 17 residential projects. But the 2008 capex budget may still be adjusted once the ongoing financial audit of the company and the examination of its financial statements for 2007 are completed within the next two weeks, Filinvest said in a statement to the stock exchange. Filinvest earlier posted a 95.2 percent increase in net profit in the first nine months of 2007 to P1.3 billion, citing strong demand in both residential and office space segments in the country's booming property sector. Filinvest closed unchanged at P1.06, surrendering early gains. The key index fell 2.8 percent.
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