ROBINSONS Land Corp. grew its net profit for the quarter ending December last year by 17 percent year-on-year to P1.02 billion on a double-digit expansion in revenues across its shopping malls, residential, office and hotel businesses.
The net profit attributable to equity holders of parent for October to December, the first quarter in RLC?s fiscal year, was fueled by a 21-percent rise in combined real estate and hotel revenues to P3 billion from a year ago. Cash flow as measured by earnings before interest, taxes, depreciation and amortization was up 12 percent year-on-year to P1.79 billion.
?We continue to be very optimistic about the prospects of the real estate sector,? RLC president Frederick Go said. ?Our businesses are improving on all fronts.?
The commercial centers division contributed 49 percent or P1.6 billion of the company?s first-quarter gross revenues. The shopping mall business grew 10 percent as rental revenues were boosted by newly opened malls in Dumaguete, Ilocos Norte, General Santos, Tacloban and Davao. Metro Manila malls led by Robinsons Galleria Ortigas and Robinsons Place Manila also contributed to the growth.
The net profit attributable to equity holders of parent for October to December, the first quarter in RLC?s fiscal year, was fueled by a 21-percent rise in combined real estate and hotel revenues to P3 billion from a year ago. Cash flow as measured by earnings before interest, taxes, depreciation and amortization was up 12 percent year-on-year to P1.79 billion.
?We continue to be very optimistic about the prospects of the real estate sector,? RLC president Frederick Go said. ?Our businesses are improving on all fronts.?
The commercial centers division contributed 49 percent or P1.6 billion of the company?s first-quarter gross revenues. The shopping mall business grew 10 percent as rental revenues were boosted by newly opened malls in Dumaguete, Ilocos Norte, General Santos, Tacloban and Davao. Metro Manila malls led by Robinsons Galleria Ortigas and Robinsons Place Manila also contributed to the growth.
Doris C. Dumlao
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For inquiries please call 09065549505 or 09229452718 and look for Ray.
You can also email at raymund.baroy@yahoo.com
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