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Vista Land aims for 10% YOY growth in 2018 profit

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Vista Land aims for 10% YOY growth in 2018 profit

Philippines-listed developer Vista Land & Lifescapes Inc. is targeting an approximately 10% year-over-year growth in its 2018 profit to 10 billion pesos from 9.1 billion pesos.

Vista Land added that it expects its reservation sales to reach 72 billion pesos during the year, according to a release it filed to confirm a media report.

Vista Land also flagged a plan to issue bonds within the third quarter to raise about 10 billion pesos. It said it will use the amount to satisfy its between 45 billion- and 50 billion-peso allocation for 2018 capital expenditures.

As of May 15, US$1 was equivalent to 52.60 Philippine pesos.