Following are the highlights of the financial results of operations of DDMP REIT, INC. (DDMPR) for the six months ending June 30, 2022:
The Company reports ₱1.057 Billion Net Income for the first six months ending June 30, 2022. DDMPR’s Core Net Income for 1H 2022 is 17.0% higher than the core net income booked in the same period in 1H 2021. The Company’s 1H 2022 Net Income consists purely of core recurring net income as the ₱1.3 Billion tax benefit related to one-off adjustments as a result of the implementation of the CREATE law was booked in 2021 last year.
Total Revenues increased (+2.9%) to ₱1.23 Billion and Rental Income increased (+7.6%) to ₱1.14 Billion, for the first six months ending June 30, 2022 as compared to the same period the previous year.
Total Assets of the Company increased (+0.2%) to ₱50.30 Billion for the period ending June 30, 2022 as compared to December 31, 2021. Total Equity increased (+0.2%) to ₱41.04 Billion for the period ending June 30, 2022 as compared to December 31, 2021.
Debt to Equity Ratio remains 0 (zero) as DDMP REIT Inc. remains Debt Free.
DDMP REIT DECLARES ₱486.7 MILLION CASH DIVIDENDS
Today, August 15, 2022 the Board of Directors of DDMP REIT approved a cash dividend to all shareholders as of record date on August 31, 2022 amounting to ₱486.7 Million or ₱0.0272990 per share with payment date of September 26, 2022.
“We are glad for the many positive economic indicators that are recently signaling a new economic cycle post the Covid-19 pandemic, post the peak of Ukraine war tensions, and post the generally peaceful Philippine election. These past few weeks we have felt the buildup of fresh new tenant inquiries, ongoing negotiations and increased activities of the existing office and retail tenants. It looks like many companies are now starting to again make important long-term decisions on their growth and expansion plans,”
– DDMP REIT Chairman Edgar Injap Sia II.
“Economic cycles brought about by either natural or man-made causes are really unavoidable. For the specific case of DDMP REIT Inc, since both the titled prime land and the buildings are owned by the DDMP REIT shareholders perpetually or literally forever, this allows DDMPR to better navigate those unavoidable economic cycles. Our optimism is anchored on the view that at the end of the day if we look back historically over a long period of time, the years of fair weather are always far longer than the years of storm,” added Mr. Sia.