Golden Haven income up 23% in Q1

MANILA, Philippines - Golden Haven Memorial Park Inc., the memorial park developer of the Villar family, grew its first quarter net income by 23 percent to P54.2 million from P43.9 million a year ago.

Golden Haven’s revenue grew 15 percent to P233.1 million during the period compared to the P201.9 million booked last year.

With its first quarter results, Golden Haven expects 2017 to be another strong year for the company.

“We were able to achieve our goals of strong, steady growth with our successful listing and expansion programs implemented last year,” said Golden Haven president Jerry Navarrete.

He said the company remains bullish this year and would continue the upward trend by opening more locations nationwide as well as launching products and services via a more modern and innovative death care developments.

During the period, Golden Haven also opened its memorial chapel in its San Ezekiel complex in Las Piñas, adding another product to its growing portfolio.

“The opening of the Golden Haven Memorial Chapel is another step forward for our company toward becoming the country’s first fully integrated death care company, as we committed to our investors when we listed last year,” said Golden Haven COO Maribeth Tolentino.

She said the new chapel complex allows the company to generate revenue from a completely new range of products and services, including memorial services, casket, urn and keepsake sales, and cremation services in addition to existing revenue source.

Golden Haven is chaired by Manuel Villar Jr. who was recently elected as chairman of the board.

At present, the company, which made its debut in the stock market in 2016, has eight memorial park projects covering a total area of more than 66 hectares spread across various parts of the Philippines.