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DoubleDragon Registers 9M16 6.6% Net Income Climb

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MANILA, Philippines – DoubleDragon Properties Corp. (PSE:DD) total revenues for the first nine months of 2016 climbed by 15.4 percent from P1.7 billion to P2 billion against last year record.

The returns of the company are attributed to its interim projects, Dragon8 Mall – Divisoria, W.H. Taft Residences, DD HappyHomes, and The SkySuites Tower. The retail sales also posed a healthy increase by 15 percent as of September 30, 2016 compared last year.

The non-recurring projects pursue higher revenues for the company until the next two years. During the same span of time, the commercial and office projects in Metro Manila and DoubleDragon’s provincial community malls are building up.

For more than five folds, the rental revenues increased during the nine-month period as contributed by launches of new mall. This is in line with the company’s goal of shifting into a revenant revenue corporate model. By 2020, the company anticipates that its 90 percent transition into the new business model retain the rental revenues peak.

The P8.5 billion increase in the company’s investment properties influenced the rise of its total assets by 46.9 percent to P40.7 billion. The investment properties now amount to P28.5 billion alongside continuous development of Metro Manila projects and other areas in the country for advancement.

The ratio of debt and equity stood under 1x, which allowed the company to issue its retail bonds before the year-end. The management is yet to obtain approval for its P15 billion worth of 10-year fixed rate bonds. These bonds are anticipated to be provided in one or several phases. Once the issuance is complete, the projects funding is anticipated to be completed. The step streamlines the company’s aim to expand its leasable space to one million square meters by 2020.

The acquirement of Hotel of Asia, Inc.’s 70 percent stake was also concluded by DoubleDragon. This will act as the company’s hospitality arm. By the fourth quarter of 2016, the additional profit from the hotels will be added to the company’s entire revenues.

Hannah Yulo, DoubleDragon Chief Investment Officer, stated that in just a couple of years since the company disclosed its 2020 plants, they are glad that it is moving towards the vision. Yulo added that she is personally honored for being a part of a team that is dynamic, young, vibrant, and hardworking. As the vision realization nears, the company sees a tremendous set of business opportunities.

Edgar Injap Sia II, DoubleDragon Chairman, stated that the team concentrates on achieving its goals by 2020. They believe that by making the first stage of growth happen, fundamentals for the company’s long-term objectives will be built.

Here’s some additional pieces of information about DD’s top 10 players’ sentiment, foreign fund flow, volatility, and volume.

Top 10 Players’ Sentiment

Participants with a 100% Buying and Selling Activity from Nov-02-2016 to Nov-16-2016 at 03:30PM:

  • 24 out of 92 participants or 26.09% of all participants registered a 100% BUYING activity
  • 9 out of 92 participants or 9.78% of all participants registered a 100% SELLING activity
  • Top 10 Players’ Buying Average: 52.6462
  • Top 10 Players’ Selling Average: 52.6802

DD - DOUBLEDRAGON PROPERTIES CORP. - Top 10 Players' Sentiment - November 16, 2016

Foreign Fund Flow

On a 30-day trading period, DD is on a Net Foreign Selling worth PHP46,871,559.00.

DD - DOUBLEDRAGON PROPERTIES CORP. - Foreign Fund Flow - November 16, 2016

Risk Level

DD has a low risk level based on our proprietary risk level indicator.

DD - DOUBLEDRAGON PROPERTIES CORP. - Volatility - November 16, 2016

Volume

DD’s volume is gradually increasing. However, there’s a pattern on DD’s volume. It registers a volume below its 30-day volume average once it touches its 30-day volume average. It doesn’t stay that long above its 30-day volume average.

DD - DOUBLEDRAGON PROPERTIES CORP. - Volume - November 16, 2016

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